States Served
Top Industries Financed
- Newspaper Publishers
Quick Summary
Farmers and Merchants State Bank of Springfield is an SBA-approved lender headquartered in SPRINGFIELD, Minnesota. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 1 SBA 7(a) loans totaling $150K, with an average loan size of $150K. They primarily serve Minnesota businesses.
About Farmers and Merchants State Bank of Springfield
Farmers and Merchants State Bank of Springfield is an SBA-approved lender headquartered in SPRINGFIELD, Minnesota. Since 2020, they have approved 1 SBA 7(a) loans totaling $150K, with an average loan size of $150K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They primarily serve businesses in Minnesota.
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Frequently Asked Questions
Is Farmers and Merchants State Bank of Springfield an SBA Preferred Lender?
Yes, Farmers and Merchants State Bank of Springfield is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Farmers and Merchants State Bank of Springfield approved?
According to SBA FOIA public records, Farmers and Merchants State Bank of Springfield has approved 1 SBA 7(a) loans totaling $150K since 2020. Their average loan size is $150K.
What states does Farmers and Merchants State Bank of Springfield serve?
Farmers and Merchants State Bank of Springfield primarily serves businesses in Minnesota.
How do I apply for an SBA loan with Farmers and Merchants State Bank of Springfield?
To apply for an SBA 7(a) loan with Farmers and Merchants State Bank of Springfield, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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