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Business Loans

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Your time is precious and, when it comes to banking, we can help you make the most of it. Our commercial lenders and business bankers are here to assist your business in staying financially healthy and offer all of the electronic resources to make banking convenient. Come visit us, or drop us a line.  We’re always here to help.

Loan Comparison Details

Best UseTermMinimum Monthly PaymentCollateral

Term Loans

Best Use

Finance office equipment, manufacturing equipment, computers, vehicles, and more.


Up to 7 years

Minimum Monthly Payment

Principal and interest based on amortization.


Equipment, vehicles or business assets

Real Estate Mortgage

Best Use

Purchase initial or additional property, renovate current facilities, or relocate.



Minimum Monthly Payment

Principal and interest based on amortization.


Commercial, residential, or multi-family real estate

Business Checking Plus

Best Use

A short-term working capital revolving line of credit that attaches to your business checking account.


Open end

Minimum Monthly Payment

Interest only payments


Typically unsecured; may require collateral

Business Line of Credit

Best Use

A flexible short-term credit line for operating expenses or small capital expenditures.


Varies; typically 1 year maturity

Minimum Monthly Payment

Interest only payments


Commercial real estate and/or business assets


“I’ve been banking with United Community Bank for over 20 years (both personal and business), and every experience has been pleasant and helpful.”

-Keith, business customer


“My experience with United Community Bank has been nothing less than outstanding.  Our lender, Andy Eckhoff, was extremely thorough and accommodating in helping my husband and I finance our vacation property.  We enjoyed working with him and will definitely be contacting him should we have any additional financing needs!”

-Tracy, business customer


“We enjoyed working with lender Ryan Rustad because he is a high character, knowledgeable, trustworthy individual. Ryan made the business financing process quick, easy, and stress-free. As owners of a small business, and parents to four children, we don’t have an excess of time so we appreciate a small-town bank’s ability to make things happen in a timely, efficient manner.”

-Ryan, business customer

“Thank you so much for helping us realize a dream! We are thrilled to be in Perham and Gathering Grounds is heaven, you changed our lives!”

Ashlea, business customer

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Paycheck Protection Program (PPP)

Loans that can be used for payroll, group health care benefits, insurance premiums, and interest (but not principal) on mortgages or debt incurred prior to February 15, 2020, rent on any lease enforced prior to February 15, 2020 and utility payments. Maximum loan size is 10 million and the loan amount  is calculated at 2.5x the average monthly payroll costs over the last 12 months preceding the loan origination date. Seasonal businesses may use the date February 15, 2019 – June 30, 2019 or March 1, 2019 – June 30, 2019 to calculate the average payroll.

  • Loan Forgiveness benefit (see PPP Borrower Information Fact Sheet)
  • Loan must be repaid within 2 years.
  • Fixed interest rate of 1.0%.
  • First payment will be at least six months after the loan origination date.

Apply for PPP Loan Forgiveness

How to Apply for a Business Loan

You deserve timely decisions on your business lending application. To help us expedite the process, please come prepared with the following required documents.

Existing Businesses

New Businesses

Congratulations on deciding to start your own business! Our lenders understand the local market and can help review your business plan and can customize a loan to meet your individual needs.


To get started, we will ask for the following information:

  • Business plan (including, but not limited to: business description, industry analysis, and analysis of competitors, market analysis, marketing plan, management plan, and a financial plan)
  • 3-5 years of projected revenues and expenses
  • 3 years of personal tax returns
  • Personal Financial Statement
  • (if applicable) Certificate of Assumed Name and official Federal Tax ID confirmation (apply for an ID here)
  • (if applicable) Articles of Incorporation/Organization
  • (if applying for SBA loan) SBA Form 1919



After we receive your information, we can usually give you an answer in a matter of days. Once approved, the loan can be closed anywhere from a couple of days to a couple of months, depending on the type and complexity of the loan.


Coffee with a Banker Video Series

Business Resource: Small Business Development Center


Information accurate as of 3/16/19, and may be subject to change. All loans are subject to credit and underwriting approval. Other terms and conditions may apply.

United Community Bank NMLS 421829