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Farmers State Bank of Underwood

UNDERWOOD, MN 56586

2
Loans Approved
$1.3M
Total Volume
$637K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • Home Centers
  • Septic Tank and Related Services

Quick Summary

Farmers State Bank of Underwood is an SBA-approved lender headquartered in UNDERWOOD, Minnesota. Since 2020, they have approved 2 SBA 7(a) loans totaling $1.3M, with an average loan size of $637K. They primarily serve Minnesota businesses.

About Farmers State Bank of Underwood

Farmers State Bank of Underwood is an SBA-approved lender headquartered in UNDERWOOD, Minnesota. Since 2020, they have approved 2 SBA 7(a) loans totaling $1.3M, with an average loan size of $637K. They primarily serve businesses in Minnesota.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Farmers State Bank of Underwood an SBA Preferred Lender?

Farmers State Bank of Underwood is an SBA-approved lender but does not currently hold Preferred Lender (PLP) status. Loan approvals require standard SBA review, which typically adds 2–4 weeks to the process.

How many SBA loans has Farmers State Bank of Underwood approved?

According to SBA FOIA public records, Farmers State Bank of Underwood has approved 2 SBA 7(a) loans totaling $1.3M since 2020. Their average loan size is $637K.

What states does Farmers State Bank of Underwood serve?

Farmers State Bank of Underwood primarily serves businesses in Minnesota.

How do I apply for an SBA loan with Farmers State Bank of Underwood?

To apply for an SBA 7(a) loan with Farmers State Bank of Underwood, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.

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