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First State Bank and Trust

BAYPORT, MN 55003

10
Loans Approved
$2.5M
Total Volume
$250K
Avg Loan Size
2
States Served

States Served

MinnesotaWisconsin

Top Industries Financed

  • General Automotive Repair
  • Administrative Management and General Management Consulting Services
  • Other Clothing Stores
  • Plumbing, Heating, and Air-Conditioning Contractors
  • Pet Care (except Veterinary) Services

Quick Summary

First State Bank and Trust is an SBA-approved lender headquartered in BAYPORT, Minnesota. Since 2020, they have approved 10 SBA 7(a) loans totaling $2.5M, with an average loan size of $250K. They serve businesses across 2 states.

About First State Bank and Trust

First State Bank and Trust is an SBA-approved lender headquartered in BAYPORT, Minnesota. Since 2020, they have approved 10 SBA 7(a) loans totaling $2.5M, with an average loan size of $250K. They serve businesses across 2 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is First State Bank and Trust an SBA Preferred Lender?

First State Bank and Trust is an SBA-approved lender but does not currently hold Preferred Lender (PLP) status. Loan approvals require standard SBA review, which typically adds 2–4 weeks to the process.

How many SBA loans has First State Bank and Trust approved?

According to SBA FOIA public records, First State Bank and Trust has approved 10 SBA 7(a) loans totaling $2.5M since 2020. Their average loan size is $250K.

What states does First State Bank and Trust serve?

First State Bank and Trust serves businesses in 2 states: Minnesota, Wisconsin.

How do I apply for an SBA loan with First State Bank and Trust?

To apply for an SBA 7(a) loan with First State Bank and Trust, 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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