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Loans & Financing

What type of business loan options does Stearns Bank offer?

Stearns Bank offers Business loans for all types of businesses including, Conventional, SBA, USDA, FSA, and Section 42 financing. Stearns Bank can help you start a business, purchase equipment, refinance debt, construction loans and provide working capital.

How long does it take to receive a business loan from Stearns Bank?

Stearns Bank offers quick and flexible business financing, providing approval in hours or days not weeks. Our business lending team works hard to meet your timeline with loan committee meeting twice weekly and more if needed.

How can I reduce the amount of my monthly term loan payments?

Stearns Bank offers long term business financing through our SBA loan program, with quick and easy approvals and closings. We are able to finance existing business debt to help keep your debt payments manageable and allow you to run a successful business.

Does Stearns Bank offer funding for new business startups?

Yes, as a Preferred Small Business Lender- Stearns Bank can approve and close loans on behalf of the SBA, which allows us to do so quickly and effectively.

Do you have options for Veterans?

Through our SBA program there are savings available on closing costs if you are a Veteran.

How long does the application and decision process take?

We know that you are busy trying to run/start a business and are committed to making your financing a simple process. Loans $350,000 or less are approved in hours, larger loans approved in days once we receive all of the application information and complete due diligence. We close your loan when you are ready to close.

Once you approve my loan, how long does it take to actually receive my money?

After your loan is approved you will be provided with an outline of additional items needed in order to close your loan. Upon receipt of the additional information and receipt of any required 3rd party reports (appraisals, environmental reports, title works) needed we can process your loan very quickly, typically within a few business days.

Do I need to have a deposit account with Stearns Bank in order to apply for business financing?

While we would be happy to also help you with your deposit and operational needs, we do not require that you hold a deposit account with Stearns Bank.

I have been in business for only about a year. Will that affect my ability to get financing?

Stearns Bank is a very active Small Business lender which gives us the ability to help with financing regardless of the amount of time you have been in business. We are very creative in our underwriting and look at all aspects of your personal and business financial condition to try and find a way to “Get the Job Done”.

What is a Small Business Administration (SBA) loan?

The SBA is a federal agency that helps established businesses grow and helps new businesses get started. As a borrower, you’re not borrowing from the SBA, you’re borrowing from a financial institution like Stearns Bank that works with the SBA to provide loans to small business customers.

Is an SBA loan only for a new business?

No. Stearns Bank provides SBA loans to established businesses as well.

Is an SBA loan from one bank the same as from another bank?

No, the bank that you choose for financing will affect the time it takes to approve and close your loan. The bank you choose will determine the terms and pricing on the loan and also the collateral required. Working with a Preferred Lending team that is familiar with SBA financing is beneficial to the small business owner for many reasons. Stearns Bank is committed to making your SBA loan experience fast, friendly, and flexible.

Is Stearns Bank a SBA Preferred Lender?

Yes. This means we meet all Preferred Lender Program eligibility criteria, including a proficiency in processing and servicing SBA-guaranteed loans. As a nationwide Preferred SBA Lender, we are able to approve and process loans in-house across the country. We're part of the SBA's effort to streamline the procedures necessary to provide financial assistance to the small business community. Learn more about SBA Preferred Lenders

Online & Mobile Banking

What’s the benefits and features of Online Banking?

As a Stearns Bank customer you are able to view balances and transactions through your online banking as well as transfer funds between accounts and pay bills. You are able to download history into your software, access the ATM locator and view statements online.

How do I enroll in Online Banking?

  1. Go to and click ENROLL in the Online Banking box.
  2. Select Personal or Business online banking.
    For Personal Online Enrollment:
    • Select your bank
    • Fill in your information and click Submit
    • Enter a new Username and Password
    • Complete the Security Information
    • Accept the Electronic Banking Agreement
    For Business Online Enrollment:
    • Fill in your information and click Submit
    • A bank representative will contact you by phone to complete the enrollment process
  3. Once you are enrolled you can sign up for Mobile Banking (personal only), Bill Pay and eStatements

How long after I apply can I start using Online Banking?

Available as soon as enrollment is successful

How does Stearns Bank protect my accounts from Internet Fraud?

Site is protected with a secured URL (green bar), multilayered security system with geographic indicators, and password.

Forgot your Login ID?

Must call your bank during business hours.

How do I change my Login ID or password?

You must call your bank to change your username. Password can be changed by going to User Options once logged in.

Why am I logged off sometimes, or my session expires and I have to log in again?

This is due to the connection with the provider. The idle time is set to 20 minutes

How long is my account activity available?

Customers can go back to May 30, 2012

How do I get the banking app on my phone or tablet?

If you have an online banking username and password, simply go to your Google or Apple Store and search for Stearns Bank, then download the app to your device.