First State Bank of Wyoming offers various term loans for existing or start-up businesses.
We offer fixed and variable interest rates with a variety of payment plans. Please contact one of our lenders today to discuss your commercial lending needs and find out why we are the "bank of choice."
Here are a few of the programs we are able to offer commercial customers that may help them reduce the cost of borrowing:
SBA Loans/Paycheck Protection Program
First State Bank of Wyoming partners with the Small Business Administration to help smaller businesses succeed. As a SBAExpress lender we offer many SBA loans including SBA 7, SBA 504 and PPP Loans.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep thier workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used to for payroll, rent, mortgage interest, or utilities.
Additional resources can be found on the Small Business Associations website.
Chisago County Industrial Enterprise Program
Expanding businesses within Chisago County may qualify for below market rate loans through the Chisago County Industrial Enterprise Program. First State Bank of Wyoming is involved with this project and has helped several local business people expand their existing businesses. For more information, contact one of our lenders at (651) 462-7611.