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Business

Need capital to increase inventory, finance retail space, purchase equipment, or grow your business? Peoples Bank offers a variety of financing tools to help you find the best business credit solution that’s right for you.

Lines Of Credit

At Peoples Bank, our Lines of Credit provide ready cash to help you meet short-term funding needs, such as increasing inventory, dealing with seasonal cash flow issues, or taking advantage of unexpected opportunities. You pay interest on the outstanding principal balance each month, and you can access your line simply by making a transfer to your Peoples Bank business checking account.

Term Loan

Term Loans are an excellent source of funding for purchasing equipment and other fixed assets or for obtaining permanent working capital. They are designed for intermediate term borrowing needs up to seven years and repayment is based on the life of the asset and your company’s cash flow.

SBA Loans

Just because your business is small doesn’t mean your dreams are too. Let’s talk. We’re part of a select group of banks in Minnesota with a Preferred SBA Lender designation. That means a faster review and approval process from a dedicated lending department full of knowledgeable, go-getter bankers.

Virtually any business purpose can qualify for a SBA guaranteed loan, including:

  • Commercial real estate purchase
  • Construction
  • Business acquisition or expansion
  • Equipment or inventory purchase
  • Refinance
  • Working capital

Peoples Bank and the SBA offer two separate, but equally important loan programs:

Basic 7(a) Loan Guaranty

Customer: For-profit small businesses
Function: Serves as the SBA’s primary business loan program to help qualified small businesses obtain financing when they might not be eligible for business loans through normal lending channels.

It’s also the agency’s most flexible business loan program, since financing under this program can be guaranteed for a variety of general business purposes.

Loan proceeds can be used for most sound business purposes including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions).

Loan maturity is up to 10 years for working capital and generally up to 25 years for fixed assets. The maximum SBA guaranteed loan is currently $2,000,000.

Certified Development Company (CDC), a 504 Loan Program

Customer: For-profit small businesses requiring “brick and mortar” financing.
Function: Provides long-term, fixed-rate financing to small businesses to acquire real estate or machinery or equipment for expansion or modernization. Typically a 504 project includes a loan secured from a private-sector lender with a senior lien, a loan secured from a CDC (funded by a 100 percent SBA-guaranteed debenture) with a junior lien covering up to 40 percent of the total cost, and a contribution of at least 10 percent equity from the borrower. The maximum SBA debenture generally is $1 million (and up to $1.3 million in some cases).

To find out how Peoples Bank can assist your small business, please contact a Business Banker at any one of our offices.

Commercial Real Estate

No matter what size business or type of organization you represent, Peoples Bank can work with you to secure the appropriate financing.

Our entrepreneurial approach and team of creative, seasoned lending professionals enable Peoples Bank to provide superior service. We pride ourselves on recognizing unique financing opportunities, responding to requests quickly, underwriting each loan with an eye toward problem-solving, and providing certainty of execution for time-sensitive transactions.

Letters of Credit

Looking for a way to establish a solid relationship with a company with whom you have little or no history?



Letters of Credit are guarantees of payment to help you make purchases or transact business with companies with whom you have limited trading experience or credit history. Cash or marketable securities are generally used to secure the credit.



Peoples Bank offers two types:

  • Commercial Letters of Credit – used to facilitate trading activity between businesses.
  • Standby Letters of Credit – serve as an assurance to others that your business will meet its contractual obligations

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