*PROGRAM NO LONGER OFFERED*
The COVID-19 Pandemic has changed the way we do business in our communities and the way business is getting done around the world. Our lives are intertwined with our clients. As a strong proponent and business banker to our local area businesses since our founding in 1935, we wanted to show our support with a new loan opportunity to help our small businesses grow and expand. It takes a local, family-owned bank to provide clear and honest conversations. Our focus is not on the next quarter, year or budget cycle but how we will build a sustainable and growing community for generations to come. With more branches of any bank in McLeod and Carver County, we are growing together.
We are launching this new program to help support businesses in our communities that have supported us and/or are looking to form a new a long-term partnership. It’s another way we can give back to our area. When the Paycheck Protection Program (PPP) program came out, we were fortunate to provide funds to support over 3100 jobs around our communities in over 290 businesses. Stepping up is what we do. Likewise, we are starting this initiative to meet the needs of businesses looking to buy new equipment, improve their stores and work through an environment not experienced in recent history.
If your business is located in McLeod County, Carver County, or Sibley County, please contact us about this 2% loan offering. We think you will appreciate our creative and customized approach to your business that is supported by our local roots.

WHAT IS THE TWO PERCENT LOAN PROGRAM?
Two-Percent Loans provide financing to McLeod, Carver, & Sibley County businesses to purchase equipment and/or to make building improvements. Security Bank & Trust Co. will request that the business’s primary depository accounts either continue to be held at or moved to its bank as a part of the financing process.
Security Bank & Trust Co. will lend up to $75,000 at 2 percent interest for eligible purposes defined below. The amortization schedule will be determined at the time of application and will not exceed 10 years. The fees for the loan will be a 1 percent origination fee, $150 documentation fee, and any out of pocket costs (title work & appraisals where applicable) due at closing.
TERMS AND CONDITIONS
- Applicant must repay the loan and be an acceptable credit risk.
- Use contractors licensed in Minnesota.
- Meet all city codes for all rehab work or equipment installations.
- Comply with zoning ordinances.
- Security Bank & Trust Co. must have a first lien on collateral. Loan can be a second lien/mortgage where Security Bank & Trust Co. has or refinances any existing 1st real estate mortgage/lien at market rates.
- Security Bank & Trust Co. cannot finance any work started prior to the loan.
- The program will be maxed out at $20 million in total loans.
WHO IS ELIGIBLE
- All businesses headquartered in McLeod, Carver, or Sibley County, Minnesota.
- The applicant may be individual owners, partnerships, and corporations.
ELIGIBLE USES
- Improvements on real estate including:
- Interior Improvements
- Windows
- Roofing
- Plumbing
- Electrical
- Mechanical Systems and Air Conditioning
- All work on the front and sides of business buildings facing public streets
- Parking lots, including lighting, surfacing and landscaping
- Energy conservation and energy retrofits
- Handicap access
- Production & operational equipment
- Equipment must be located in subject area and vehicles do not qualify
- Real estate acquisition
HOW TO APPLY
Contact us to request application details here.