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First Resource Bank

LINO LAKES, MN 55014

⭐ SBA Preferred Lender
104
Loans Approved
$62.2M
Total Volume
$598K
Avg Loan Size
7
States Served

States Served

CaliforniaColoradoFloridaMinnesotaPennsylvaniaWashingtonWisconsin

Top Industries Financed

  • Residential Remodelers
  • Other Commercial and Industrial Machinery and Equipment Rental and Lea
  • Full-Service Restaurants
  • Cut Stone and Stone Product Manufacturing
  • All Other Specialty Trade Contractors

Quick Summary

First Resource Bank is an SBA-approved lender headquartered in LINO LAKES, Minnesota. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 104 SBA 7(a) loans totaling $62.2M, with an average loan size of $598K. They serve businesses across 7 states.

About First Resource Bank

First Resource Bank is an SBA-approved lender headquartered in LINO LAKES, Minnesota. Since 2020, they have approved 104 SBA 7(a) loans totaling $62.2M, with an average loan size of $598K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 7 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is First Resource Bank an SBA Preferred Lender?

Yes, First Resource Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.

How many SBA loans has First Resource Bank approved?

According to SBA FOIA public records, First Resource Bank has approved 104 SBA 7(a) loans totaling $62.2M since 2020. Their average loan size is $598K.

What states does First Resource Bank serve?

First Resource Bank serves businesses in 7 states: California, Colorado, Florida, Minnesota, Pennsylvania, Washington, Wisconsin.

How do I apply for an SBA loan with First Resource Bank?

To apply for an SBA 7(a) loan with First Resource Bank, 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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SBA 7(a) loans up to $5M · Rates from 10.5% · As fast as 7 days