Top Industries Financed
- Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesal
- Full-Service Restaurants
- Floor Covering Stores
- General Freight Trucking, Local
- Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Whole
Quick Summary
The State Bank of Faribault is an SBA-approved lender headquartered in FARIBAULT, Minnesota. Since 2020, they have approved 23 SBA 7(a) loans totaling $4.1M, with an average loan size of $177K. They serve businesses across 2 states.
About The State Bank of Faribault
The State Bank of Faribault is an SBA-approved lender headquartered in FARIBAULT, Minnesota. Since 2020, they have approved 23 SBA 7(a) loans totaling $4.1M, with an average loan size of $177K. They serve businesses across 2 states.
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Frequently Asked Questions
Is The State Bank of Faribault an SBA Preferred Lender?
The State Bank of Faribault 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 The State Bank of Faribault approved?
According to SBA FOIA public records, The State Bank of Faribault has approved 23 SBA 7(a) loans totaling $4.1M since 2020. Their average loan size is $177K.
What states does The State Bank of Faribault serve?
The State Bank of Faribault serves businesses in 2 states: Alabama, Minnesota.
How do I apply for an SBA loan with The State Bank of Faribault?
To apply for an SBA 7(a) loan with The State Bank of Faribault, 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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