Business Financial Services in Willmar, Minnesota
Grow your business with Lake Region Bank financial services.
We’re a small business, just like you. We know how important it is to have the right business lending and financial services available when you need them.
At Lake Region Bank, our talented team of business bankers are here to help you find the right commercial or ag loan and manage cash flow so you can grow your operation.
Grow with Lake Region Bank
Get in touch to learn more about our business financial services and commercial loans. Enter your information below or call (320) 235-5900.
Commercial & Ag Loans
When it’s time to make the next big investment in your operation, you need a trusted partner by your side to help you understand your financing options. Our business banking team is here to help you find the best commercial or ag loan that’s the best fit for your business, farm, or ranch.
Types of Commercial Loans
Lake Region Bank can help you secure these types of commercial loans:
Secure financing for your ag equipment or working capital for your farm with an ag loan from Lake Region Bank. We can help you secure an operating loan to cover daily expenses, equipment loans for your next machinery investment, and ag lines of credit to help with cash flow throughout the farming season. Our lending team can also work with USDA on farm loans for eligible farmers. We offer competitive rates, flexible amortization, and local support.
Purchase the tools and machinery you need without large upfront costs with an equipment loan with Lake Region Bank. We can help you purchase new farm equipment, construction machinery, and manufacturing and production equipment. If you need it for your business or ag operation, we can help you finance it.
Buy, build or refinance your new location, expansion, or build-out with a convenient real estate loan with Lake Region Bank. Your commercial real estate loan can be used for owner and non-owner occupied properties, commercial office and retail, land acquisition, or land development.
SBA 7(a) loans can be used for all sorts of business-related expenses, including real estate improvements, working capital, debt refinancing, and equipment purchasing. SBA 7(a) loans are available up to $5 million for eligible businesses. Our team can help you understand if an SBA 7(a) loan is the right choice for you.
An SBA 504 loan can be used for certain real estate investments, including the purchase and construction of new facilities, modernization of existing facilities, or the purchase of long-term machinery or equipment. SBA 504 loans are available up to $5 million for eligible businesses.
Want access to cash as you need it? An operating line of credit makes cash available to you up to a certain limit. You can use the money as you need it and only pay interest on the amount you actually borrow. Lake Region Bank’s lenders can help you determine if an operating line of credit is the best choice for your business.
Sometimes, a major business purchase requires a guarantee that you will be able to pay on time and for the full amount. A letter of credit from Lake Region Bank can give sellers the peace of mind that you have the funds to make your next big purchase. Work with our lending team to draft a letter of credit for next big purchase.
Use a secured business line to take advantage of higher borrowing limits and lower interest rates. For a secured business line of credit, you offer collateral, such as real estate, a vehicle, or equipment, in exchange for a line of credit. The total amount of the collateral matches the amount you borrow. Lake Region Bank can help you take advantage of this loan product.
How Do I Learn More?
Applying for a Lake Region Bank commercial or ag loan is easy. Fill out the form or call (320) 235-5900 to talk with one of our knowledgeable and friendly commercial lenders.
Cash Management for Businesses
Cash management services help you manage your accounts receivable and payable and optimize your business’s cash flow. From online banking and mobile business banking apps to ACH transfers and mobile deposit, Lake Region Bank’s business bankers can help you get a clearer picture of your business’s revenue and expenses and optimize your cash flow management.
Cash Management Services
Cash management services with Lake Region Bank include:
Get access to your accounts when you need it with mobile banking with Lake Region Bank. Monitor your accounts at a glance, transfer money, and make a loan payment right in the app.
Enjoy a simple and convenient way to manage your business’s money with our online banking services. Our easy-to-use interface and great tools can simplify your financial life. Multiple users can be set up with different access rights for your account managing.
Mobile deposit at Lake Region Bank is free and convenient. Make a deposit with your mobile device anywhere, anytime.
With merchant remote deposit, deposit batches of checks from the convenience of your office. Our team can help you install the equipment you need and provide ongoing training and support.
Take advantage of wire transfers to send and receive funds quickly and securely. Lake Region Bank offers same-day domestic wire transfers as well as international transfers at our locations or over-the-phone with prior authorization.
ACH transfer makes payroll a breeze. You can also use ACH with your customers for fast, easy, and reliable auto payments.
Business debit cards debit directly from your business checking account and can be used for all of your business purchases. Issue cards for your employees and control the daily spending limit for each card. Instant-issue cards are available for you today.
Lake Region Bank offers a variety of business credit cards to meet your business’s spending needs. Choose from rewards cards, cash back cards, and more.
How Do I Learn More?
Taking advantage of Lake Region Bank’s cash management services is easy. Fill out the form or call (320) 235-5900 to talk with one of our knowledgeable and friendly business bankers.
Business Mobile Banking
Save time, improve cash flow, and streamline your business financial tasks with Premier E-Corp, Lake Region Bank’s digital banking suite for businesses. View your accounts online 24/7, give your accountant, bookkeeper, or trusted employee secure access, and complete internal and ACH transfers all within the convenient web app.
Business Mobile Banking Services
Business Mobile Banking services with Lake Region Bank’s Premier E-Corp include:
Use our app to access and monitor your business accounts and make deposits from anywhere, anytime. Get account notifications to keep an eye on all account activity.
Set up merchant remote deposit and make bulk deposits from the convenience of your office. We can help you install the required equipment and train you and your staff on how to securely use this helpful product.
Wondering if that deposit posted or if payroll went through? Know at a glance with our mobile banking app. Monitor your account balances, view check images, and make a payment on your loan or line of credit.
Use our app to instantly transfer money between your accounts with Lake Region Bank and never worry that you won’t have the funds you need or that you’ll miss a payment.
Transaction histories are helpful for accounting purposes as well as resolving payment or payroll disputes.
Making your monthly loan payment on your Lake Region Bank loan is fast and easy with our mobile app.
Use our ACH Manager to transmit payroll directly into your employees’ accounts or initiate auto-debits to customer accounts for auto-payments. ACH transfers with Lake Region Bank are secure and convenient.
How Do I Learn More?
Taking advantage of Lake Region Bank’s business mobile banking services is easy. Fill out the form or call (320) 235-5900 to talk with one of our knowledgeable and friendly business bankers.
Additional Business Services
Lake Region Bank strives to be your one-stop-shop for all business financial services. In addition to our cash management, business mobile banking, and commercial loan services, we offer more than a dozen business services to help you manage your finances and grow your business.
Business Services
Lake Region Bank offers the following business services:
Premier E-Corp Business Online is our 24/7 online banking suite for businesses. Take your Premier E-Corp access with you anywhere with our mobile app.
Premier E-Corp Business Online is our 24/7 online banking suite for businesses. Take your Premier E-Corp access with you anywhere with our mobile app.
Our merchant services product allows you to accept debit or credit card transactions from your customers.
Save for future purchases with a business savings account from Lake Region Bank. Automatically transfer funds to your savings account up to six times per month.
Send and receive cash quickly with wire transfers at Lake Region Bank. We offer both domestic and international wire transfers from our three convenient locations and over the phone with preauthorization.
Protect your assets with overdraft protection on your deposit account. Overdraft protection will transfer from your savings account or line of credit in the event that your deposit account drops below a specified amount.
Open a health savings account for you and your employees to cover qualified health and medical expenses.
Certificates of deposit are a helpful way to save for your business. Our CDs offer fixed interest rates for a specific length of time. Get in touch with our team for more information.
We offer drive-through deposit drop-offs at our Willmar and New London branches.
Work with Lake Region Insurance Agency for your business’s insurance needs, including general liability, professional liability, worker’s compensation, and more.
Business wealth management support from Lake Region Bank can help you invest in the success and future of your business.
How Do I Learn More?
Taking advantage of Lake Region Bank’s business services is easy. Fill out the form or call (320) 235-5900 to talk with one of our knowledgeable and friendly business bankers.
Meet Your Business Banking Team
Frequently Asked Questions
About Our Business Financial Services
Ag loans are specifically designed for farmers, ranchers, and agribusinesses to finance land, livestock, equipment, and operating expenses. Commercial loans are available to a wider range of businesses and can be used to purchase equipment, expand operations, and manage cash flow.
We write all types of ag loans, including farm ownership loans, operating loans for daily expenses, equipment loans for machinery and tools, and USDA-backed loans for eligible farmers.
Our lending team will review your needs and help you put together a loan application. We will evaluate your credit history, financial statements, cash flow projections, and collateral, among other information. We may also ask for proof of farm income or land ownership for ag loans.
Lake Region Bank may consider a USDA or SBA loan for you if you do not qualify for a standard loan due to credit or income limitations.
Loan terms vary based on the type of loan. Generally, agricultural equipment and operation loans have shorter repayment periods of 1 to 7 years. Farm ownership loans have longer terms of up to 30 years, similar to your home mortgage. Commercial loans for real estate or expansion range from 5 to 25 years, and commercial equipment loans may have repayment periods between 3 to 10 years. These are general guidelines, and your actual loan terms may vary.
We’ll need a few documents from you to open your business accounts with us. Depending on the type of entity your business is, we may need your articles of organization or incorporation as well as your certificate of organization or incorporation. We may require your bylaws or organization agreement, your SS-4 form with your federal tax ID number (EIN), business ownership information, and documented authorization for all people you want to access the account(s).
Our lending team will likely want to see your business plan, an income statement, balance sheet, and financial projections, among other information. If you’re not sure how to prepare these reports or if you need help with your business plan, we recommend reaching out to the Southwest Initiative Foundation.
You can access your Premier E-Corp account by visiting lakeregion.com and clicking LOGIN in the top right-hand corner. Click on Business, and you will be taken to the login page for Premier E-Corp. You can reach out to Pam at 320-262-5203 or Amanda at 320-214-3010 for help getting online.
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