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Park State Bank

Duluth, MN 55806

23
Loans Approved
$18.2M
Total Volume
$793K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • Commercial and Industrial Machinery and Equipment (except Automotive a
  • Offices of Physical, Occupational and Speech Therapists, and Audiologi
  • Septic Tank and Related Services
  • All Other Specialty Trade Contractors
  • Drinking Places (Alcoholic Beverages)

Quick Summary

Park State Bank is an SBA-approved lender headquartered in Duluth, Minnesota. Since 2020, they have approved 23 SBA 7(a) loans totaling $18.2M, with an average loan size of $793K. They primarily serve Minnesota businesses.

About Park State Bank

Park State Bank is an SBA-approved lender headquartered in Duluth, Minnesota. Since 2020, they have approved 23 SBA 7(a) loans totaling $18.2M, with an average loan size of $793K. 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 Park State Bank an SBA Preferred Lender?

Park State Bank 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 Park State Bank approved?

According to SBA FOIA public records, Park State Bank has approved 23 SBA 7(a) loans totaling $18.2M since 2020. Their average loan size is $793K.

What states does Park State Bank serve?

Park State Bank primarily serves businesses in Minnesota.

How do I apply for an SBA loan with Park State Bank?

To apply for an SBA 7(a) loan with Park State 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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