Business Loans
Financing to Move Your Business Forward
Behind every local business is a story of hard work, growth, and commitment to the community, and we're proud to be part of that journey. At First Security Bank, our business loans are designed to support you at every stage, whether you're launching something new, expanding your operations, or planning for what's next.
As a community bank, we believe lending should feel personal. That means taking the time to understand your business goals, and what success looks like for you.
Give us a call at 507-775-2316, or contact us online to connect with Kevin Scanlan. We'd love to be part of your story.
Our Business Loan Offerings at First Security Bank
Purpose | Repayment Terms | Interest Rates | Collateral Required | |
|---|---|---|---|---|
Term Loans | - Financing solutions for equipment, machinery, and vehicle purchases or loan refinancing, Flexible payment plans and terms tailored to your needs. | - Repaid over a set period (1 to 30 years). | - Fixed or variable rates. | - Requires collateral to mitigate risk. |
Lines of Credit | - Lines of credit designed to optimize cash flow management. Available in both secured and unsecured options | - Borrow as needed, repay within agreed period. | - Variable rates based on benchmark (e.g., prime rate). | - May or may not require collateral, terms vary. |
Real Estate Loans | - Financing solutions for constructing, purchasing, or refinancing commercial properties. Customized terms and payment options to suit your business needs | - Long-term fixed rates (up to 30 years). | - Competitive interest rates. | - Secured by the real estate being financed. |
SBA Loans | - Government-guaranteed loans for small businesses. | - Longer terms (up to 10 years) with low monthly payments. | - Favorable interest rates. | - Collateral required, but SBA reduces risk for lenders. |
Kevin Scanlan
Senior Vice President Ag & Commercial Lender
NMLS: 756164
Contact Kevin today to learn more about your organization's options and how we can help support your growth, (507) 775-2316.