Stearns Bank Receives Multi-State Lender Designation, New Hire From USDA
Posted on: Jan 29, 2021
St. Cloud, Minn. – Stearns Bank N.A. has been designated as a multi-state lender by the United States Department of Agriculture (USDA). This designation will allow Stearns Bank to have a direct connection at the national level of the USDA offices in Washington, D.C. to process transactions more quickly and efficiently. Further supporting Stearns Bank’s expertise in this area is the hiring of Don Nunn as Vice President, Commercial Lender. Nunn spent more than 12 years at the USDA Rural Development office as a Business and Cooperative Loan/Grant Specialist.
“Stearns Bank is honored to be designated as a multi-state lender with the USDA OneRD program, which allows us to streamline the loan process for our customers,” said David Feriancek, SVP National Lending, Stearns Bank. “Our roots are in rural America and we understand the importance on investing capital and resources to support rural business growth. Expanding our USDA team, with lenders like Don, will position us to continue to help rural businesses nationwide obtain the financing they need.”
USDA lending is designed to help rural businesses access capital, stimulate rural economies, and create and preserve jobs. As a USDA Multi-State Lender, Stearns Bank is able to process USDA loans directly with the national USDA office, enabling efficient and consistent review and processing under the newly designed OneRD program.
The coronavirus and economic downturn have reinforced the importance of government guaranteed lending programs. Stearns Bank’s multi-state lender designation and hiring of a former USDA representative further advances its full-service solution to customers looking for industry expertise, personalized service and faster, more streamlined decisions.
To learn more about working with Stearns Bank, contact a financing expert.
About Stearns Bank N.A.
Minnesota-based Stearns Bank National Association is a $2.2 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide, in every U.S. state. Recognized as one of the nation’s top-performing banks by both American Banker and Independent Banker magazines, Stearns Bank specializes in small business lending and equipment financing. Driven by a passion to help others achieve their greatest ambitions, Stearns Bank gets the job done! For more information, visit StearnsBank.com.