First National Bank Minnesota Lobbies Are Closed
In an effort to slow the spread of Covid-19, we have closed our lobbies. We will continue to do business through our drive-thrus. If you need to access your safe deposit box, or have a transaction that requires assistance in the branch, please call your local branch for an appointment.
If you would prefer to bank remotely, you can access your accounts online 24/7 by using online and mobile banking. For more information on our online services, please click the link below.
Thank you from all of us at First National Bank Minnesota for your patience and understanding during these unprecedented times.
Business Updates and Links
First National Bank Minnesota will be accepting applications for the Paycheck Protection Program (PPP) First Draw Loans and Second Draw Loans.
The U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury Department, opened the Paycheck Protection Program on Monday, January 11, 2021 for new borrowers and certain existing PPP borrowers. The SBA will notify lenders when they are able to submit the loan requests. Until that time, lenders at First National Bank Minnesota are only able to the accept borrower applications.
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
Key PPP updates include:
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
The Minnesota Department of Employment and Economic Development (DEED) now offers the Minnesota Small Business Loan Guarantee Program. This temporary program, established in response to the 2020 public health emergency, will help Minnesota lenders provide capital to small businesses in Minnesota affected by COVID-19. These loans can be used for a variety of purposes and can be subordinate to other financing. Allowable loan uses must be exclusively in Minnesota and include machinery or equipment purchases, maintenance, or repair; expenses related to moving into or within Minnesota; and working capital when the working capital is secured by fixed assets when possible.
Small Business Emergency Loans
Federal SBA Disaster Loans and Emergency Grants (COVID-19)
There are many local resources that feature valuable Covid-19 content. Please use the following links for resources in your area: