Prior Lake State Bank

Business Services

Business Loan and Checking Services:
Prior Lake State Bank offers a complete array of loans and credit services to meet the needs of most businesses. See us about...

Term Loans - for equipment purchases, working capital and expansion.

Credit Lines - to meet short-term and seasonal working capital needs.

Real Estate - for construction, renovation, expansion or purchase.

Corporate Visa - for senior management and the sales staff.

Letters of Credit - including import, export and standby.

Merchant Visa and MasterCard - for customer convenience, greater sales and local service. Stop in, call, or email us at staff@priorlake.com for more information

Land Development Loans - Stop in, call, or email Dan Mattson at dmattson@priorlake.com Bob Facente at bfacente@priorlake.com or Gary Meyer at gmeyer@priorlake.com for more information.

The confidentiality of Internet e-mail cannot be guaranteed. Do not include private or confidential information such as passwords, account numbers, Social Security numbers, etc., in e-mails.


Please download and complete the Personal Financial Statement spreadsheet and return it to one of our Commercial Lenders along with your formal loan request.

 Personal Financial Statement


Small Business Administration (SBA) Loan Programs
The Small Business Administration was established for the sole purpose of enabling small businesses to form and grow. Prior Lake State Bank is an authorized SBA lender. Our experienced staff will assist you in determining which SBA loan program is right for your business.

The SBA 7(A) Loan
For: Land, buildings, machinery, inventory, furniture, vehicles and working capital.
Terms: Varies depending on use.
Amount: $40,000 minimum, $5,000,000 maximum.


The SBA 504 Loan
Eligibility: Must create or retain at least one job for every $65,000 in SBA funds.
For: Land, new construction or building renovation or equipment
Terms: Guaranteed fixed loan payment, low down payment, below market interest rates.
Amount: $100,000 minimum; $5,000,000 maximum.


The SBA Express Loan
This is similar to the SBA 7(A) loan program, but is designed to streamline the application and approval process on loans of less than $500,000. Loans for less than $50,000 only require a one page application.
For: Land, building, machinery, inventory, furniture, working capital and acquisitions.
Terms: Varies depending on use.
Amount: $500,000 maximum Contact us for complete details about these and other SBA loan programs.



Commercial Business Checking Account
Contract Terms that Affect This Account

Monthly Maintenance Fee: $10.00
Debit Fee: $.18 Credit Fee: $.25
Items deposited on us: $.06
Items deposited local: $.08
Items deposited transit: $.12

The fees listed above can be offset by a service charge credit that is given on the average collect balance and is computed using the average 30 day T-bill rate.

Charges Applied to this Account:
Check printing fees depend on the style ordered.


Free Business Checking
(For businesses with lower transaction volume)

Charges Applied to this Account:
Contract Terms that Affect This Account

To avoid the imposition of the SERVICE CHARGE you must meet the following requirements:

There will be a fee of 35¢ per item (if over 100 items during the month).

Items consist of checks, deposits, deposited items and other debits and credits.

Basic Business Checking
This account is available for businesses with a moderate level of checking volume.

There no monthly service fees when your small business maintains $2,500 as an average collected balance. If this average balance falls below $2,500, there is a $5 flat fee. In addition, there will be a 25¢ per item (if over 200 items during the month). Items consist of: checks, deposits, deposited items and other debits and credits.




Equal Opportunity Housing Small 
Equal Housing Lender & Member FDIC