Stearns Bank N.A.

Stearns Bank N.A. is a nationally active SBA lender and commercial bank headquartered in Saint Cloud, Minnesota. Despite its Midwest roots, Stearns Bank operates SBA lending programs across the United States and is consistently ranked among the most active SBA lenders in the country.

SBA loans are business loans partially guaranteed by the US Small Business Administration. The government guarantee means lenders can offer longer repayment terms and often lower rates than conventional business loans. This makes SBA lending one of the most cost-effective borrowing options available to small businesses. The tradeoff is a more detailed application process and a longer timeline compared to other loan types.

Stearns Bank is particularly recognized for SBA 7(a) lending and also participates in SBA equipment loan programs. The SBA 7(a) loan program is the most flexible of the SBA programs and can be used for working capital, business equipment, real estate purchases, business acquisitions and other purposes.

Stearns Bank also has an equipment finance division that provides loans and leases for business equipment to companies across a range of industries. This makes it a useful resource for businesses looking for both SBA-backed financing and equipment-specific lending products in one institution.

As a nationally active SBA lender, Stearns Bank can work with businesses in most US states, even though its physical branch network is primarily in Minnesota. Much of its business lending is handled remotely or through business development officers.

If you are considering an SBA loan from Stearns Bank, request a full breakdown of the loan terms, fees and repayment schedule, and compare this against other SBA-approved lenders before making a final decision.