Village Bank is a Preferred Lender with the U.S. Small Business Administration(SBA).
The Preferred Lender status allows us to process SBA loans in-house quickly and effectively to help turn your business into a success story. SBA loans offer flexible terms and longer maturities that benefit new or developing companies. Our SBA loan options are listed below.
|Proudly offering a variety of SBA loans to fit your business needs|
|SBA 7(a) Loans
||These loans can be used for a variety of projects including start-up financing, refinancing existing debt, real estate purchases, equipment purchases, expanding or purchasing a business. Provide funding up to $5 million.
|SBA Revolving Lines of Credit Products
||Designed to help businesses meet their short-term working capital needs. An array of sub-programs are available to assist various types of business needs.
|SBA 504 Loans
||This program provides long term fixed-rate financing with low down payment options. These loans can be used to purchase land, buildings, equipment, renovations or improvements.
|Loan Relief Programs offered directly from the SBA and DEED|
The following are resources supporting small businesses in MN that have been financially impacted by COVID-19.
To discuss your options further, visit our Financial Relief page to schedule a call.
|SBA Economic Injury Disaster Loan Program (EIDL)
||The SBA’s EIDL Program provides small businesses with working capital loans to help overcome the temporary loss of revenue they are experiencing. Learn more about how Minnesota small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL).
|DEED Emergency Loan Program for Minnesota Small Businesses
||DEED is creating a Small Business Emergency Loan Program that will be used by DEED’s lender network to make loans between $2,500 and $35,000 available for qualifying small businesses. The loans will be 50-percent forgivable, and offered at a 0 percent interest rate.
|CARES (Coronavirus Aid, Relief, and Economic Security) Act
||As an SBA Preferred Lender, Village Bank will offer Small Business Administration 7(a) loans through the recently passed the CARES Act Paycheck Protection Program (PPP) provision to help reinvigorate small businesses across the country. Learn More.
The second round of funding for the Paycheck Protection Program (PPP) has been approved, and our Village is once again ready to serve small businesses in our community.
If you are still considering applying, please contact our SBA team by sending an email with your Name, Business Name, and Phone Number, and we will follow up with next steps. If you have previously sent us an application we will reach out to collect your application materials.
Here are several frequently asked questions we've been hearing from small business owners as they move through the PPP loan process.
Contact our SBA Team
NOTE - Please only submit one request with regards to CARES Act and PPP via Village Bank web forms. All information is logged and we’re actively working to follow-up with next steps. If you have already spoken with a staff member, it is not necessary to separately submit a request for contact through this portal. We are tracking all inquiries and a staff member will be in further contact as soon as possible.