| ✅ | Key Takeaway | Details |
|---|---|---|
| 🏦 | Community Bank Focus | Falcon National Bank is a Minnesota-based community bank with six branches and a strong commitment to serving local businesses. |
| 💼 | Diverse Loan Options | Offers commercial loans, SBA loans, USDA loans, and nationwide equipment financing with flexible repayment options, including seasonal repayment plans. |
| 🌟 | SBA Preferred Lender | Recognized by the SBA as a Preferred Lender, allowing faster approvals and stronger expertise in government-backed loans. |
| ⚙️ | Equipment Financing | Provides application-only financing up to $350,000 and seasonal repayment structures for cyclical industries. |
| 🤝 | Relationship Banking | Known for community involvement and personalized service, making clients feel valued compared to big banks. |
| ❗ | Limitations | Lacks transparency on rates and terms; lending reach is primarily regional, except for equipment finance. |
| 🚫 | Conservative Underwriting | May deny startups, high-risk industries, or businesses with weaker credit and cash flow. |
| ⭐ | UCS Rating | 4.1 out of 5 — A strong option for small and medium-sized businesses, especially in Minnesota, and for equipment financing. |
For many small business owners, access to financing is a constant challenge. While the nation’s largest banks—such as Wells Fargo or Bank of America—offer extensive resources, they can be challenging to work with for smaller enterprises. Their rigid underwriting processes, stricter requirements, and slower timelines can make securing business funding more difficult than expected.
Because of this, many business owners turn to alternative business lenders. Yet, local and regional community banks continue to play a vital role in the small business loan market. These banks often understand the unique needs of their communities, offering a more personalized approach to business financing.
Falcon National Bank is one such community lender. Based in Minnesota, Falcon provides a mix of traditional banking services and specialized business loan products. Its focus on small and medium-sized businesses sets it apart from larger national banks.
In this review, we’ll explore what you should know about Falcon National Bank business loans to help you make an informed decision, including available options, the application process, and the pros and cons. Specifically, we’ll answer these questions and more:
Falcon National Bank is a Minnesota-based community bank that emphasizes local ownership, personalized customer service, and strong community involvement. Founded with the mission of supporting individuals and businesses in its region, the bank has grown into a recognized lender for small and medium-sized enterprises (SMEs).
Falcon National Bank has six physical branches in Minnesota, located in Foley, St. Cloud, Maple Grove, Richmond, Ham Lake, and Isanti. With these branches, it maintains a close connection to the communities it serves.
CEO John Herges leads the bank and has earned recognition in the banking industry. In 2020, it was named a “Top Commercial Lender” by the Independent Community Bankers of America (ICBA) for banks of similar asset size. Its strong standing reflects both its financial performance and its ability to provide tailored solutions to small businesses.
Falcon National Bank has a legacy of partnering with small business customers. Its SBA division ranks among the top SBA lenders in Minnesota, signaling a strong focus on helping entrepreneurs secure government-backed loans.
Beyond small business loans, the bank provides equipment financing nationwide, a feature that extends its services beyond Minnesota. This product line offers flexible repayment schedules that can align with seasonal business cycles—an essential option for industries such as agriculture, landscaping, and snow removal.
Falcon National Bank is known for its strong community focus and personalized customer service. Unlike large, impersonal institutions, Falcon emphasizes relationship banking, aiming to support clients not just with capital but with guidance and collaboration.
Falcon National Bank offers a wide range of lending products designed for small and medium-sized businesses. Its lending framework is based on a combination of traditional underwriting and community-oriented flexibility. The bank’s business loan programs encompass commercial loans, SBA loans, equipment financing, and other banking services.
Falcon National Bank offers a range of commercial loan products designed to meet the specific needs of businesses, including expansion, real estate acquisition, construction, equipment, and working capital. According to its website, these include:
These loans are structured to meet the specific goals of local businesses while maintaining flexibility in repayment schedules.
Falcon National Bank is an SBA preferred lender, which allows it to streamline the application and approval process for SBA loans. This designation means the bank has been recognized for its experience and expertise in originating SBA loans.
Falcon National Bank offers SBA loans for small businesses. Its SBA products include:
Being a preferred lender gives Falcon the authority to make quicker credit decisions on behalf of the SBA, which can shorten funding timelines.
Falcon National Bank also provides equipment financing nationwide. This product line stands out because it offers:
This makes Falcon an attractive lender for industries where cash flow fluctuates throughout the year.
As a full-service bank, Falcon National Bank provides more than just business loans.
Business Banking Services: Falcon offers business checking, savings, cash management tools, merchant services, and treasury management. These services help businesses manage accounts, pay vendors, control expenses, and protect against fraud.
Personal Banking Services: In addition to business solutions, Falcon provides personal checking and savings accounts, credit cards, mortgages, and personal loans. This allows small business owners to manage both business and personal finances under one roof.
Falcon National Bank does not publish detailed qualification criteria for its business loan products on its website. Like many traditional banks, it considers factors such as credit history, cash flow, collateral, and business history when evaluating loan applications.
For SBA loan requirements, borrowers typically need a good credit score, at least two years in business, and the ability to provide collateral or a personal guarantee. For equipment financing, companies may qualify with less documentation for smaller loan amounts (application-only up to $350,000).
Falcon National Bank’s strengths lie in its status as an SBA Preferred Lender and its wide range of business loan products. Its equipment financing, with seasonal repayment options, is beneficial for industries with cyclical cash flows. The bank also emphasizes relationship banking, which can help small business owners receive more personalized service and flexibility in loan structuring.
However, there are some limitations. As a regional community bank, Falcon may face size constraints and may not be able to fund larger or highly complex loans. Its transparency on business loan interest rates and fees is limited, making it harder for businesses to compare costs upfront.
Startups or companies in nontraditional industries may face additional scrutiny during underwriting. While equipment financing is available nationwide, most of Falcon’s lending footprint remains regional, with a concentration in Minnesota.
Falcon National Bank does not appear to have a business loan affiliate program. ISOs and business loan brokers should look for a different lending partner.
Most loan products are not available with an online small business application. You must contact the bank directly by phone or email.
Before applying, determine how much funding you need and what loan product best suits your business. Falcon offers commercial loans, SBA financing, and equipment loans.
Gather business financial statements, tax returns, business plans, and collateral documentation. For SBA loans, be ready to provide detailed personal and business financial information.
Reach out to one of Falcon’s branches or connect with a loan officer through its website. The bank prefers to establish personal relationships with borrowers at an early stage in the process.
Applications can be submitted online for certain products, such as equipment financing, or in person at a branch.
The bank will evaluate your financials, creditworthiness, and repayment ability. As an SBA Preferred Lender, Falcon may be able to expedite SBA loan approvals.
If approved, Falcon will provide loan terms and funding timelines. Some loans, such as equipment financing, may fund more quickly than others.
After funding, Falcon National Bank structures repayment according to the type of loan. SBA and commercial loans typically require monthly payments of principal and interest. Equipment loans may include seasonal payment adjustments. Borrowers can make payments through automatic account debits, online banking, or branch visits.
Publicly available information does not indicate whether Falcon offers early payoff discounts or charges prepayment penalties, so borrowers should confirm these details during the application process.
Falcon National Bank offers a comprehensive suite of products for small and medium-sized businesses, particularly through its SBA program and equipment financing. Its community banking approach allows for more personalized service and flexibility compared to large banks.
Equipment financing with seasonal repayment is a valuable feature for businesses with cyclical income. Additionally, the bank’s recognition as a top SBA lender in Minnesota highlights its expertise in government-backed lending.
The main disadvantages include limited transparency on loan rates, terms, and fees. Business owners may need to engage directly with a loan officer to get precise details. Falcon’s geographic reach is also restricted; while equipment financing is offered nationally, most other services are centered in Minnesota.
As a smaller bank, Falcon may not have the resources to handle very large or highly complex transactions. Startups or businesses in unconventional industries may face additional challenges securing approval.
Pros:
Cons:
Yes, Falcon National Bank is a legitimate lender. It is FDIC-insured and operates under a national charter.
Falcon National Bank has been rated “Outstanding” by the Office of the Comptroller of the Currency (OCC) under the Community Reinvestment Act (CRA).
Falcon National Bank is not to be confused with the now-defunct Falcon International Bank in Texas, which faced severe issues.
Falcon National Bank has a mixed online reputation, holding a 3.5 out of 5 rating on Google based on 11 reviews.
Customers have praised Falcon National Bank for its community involvement and for fostering relationships that make clients feel valued. Many business owners appreciate the personalized approach offered by smaller banks compared to larger banks. Some employee reviews describe Falcon National Bank as having a fun, flexible work environment that supports team collaboration.
On the other hand, users of Falcon National Bank’s mobile app have reported issues with mobile check deposits and required app reinstalls. Falcon National Bank has received negative feedback regarding outdated technology and limited growth opportunities for employees.
Like any lender, Falcon National Bank may deny a business loan application for several reasons. Common factors include insufficient credit history, low credit scores, inadequate cash flow, lack of collateral, or being a startup without enough operating history. Businesses in higher-risk industries may also struggle to get approved.
Applicants are legally entitled to a written explanation if the bank denies their business loan application. The denial letter should explain why, along with tips on how to improve your application, and when you can apply again. If not, or if you need more information, contact the bank directly.
Fortunately, small business owners have many lender options to consider, thanks in large part to alternative business financing options. Online lenders and business loan marketplaces (like UCS) can help small business owners get the funding they need in less time – and with fewer constraints – than traditional lenders.
You may be interested in one of the following small business loans:
Overall, Falcon National Bank looks solid in the realm of business lending for a regional community bank. It provides many of the key loan types small businesses need, including SBA financing, commercial loans, and equipment funding. Its personalized, relationship-driven approach appeals to business owners who value service and flexibility.
That said, the bank’s limited transparency, smaller scale, and primarily regional focus may be drawbacks for some borrowers. Larger businesses or those with complex financing needs may want to explore bigger banks or specialized non-bank lenders.
Based on the available information, we rate Falcon National Bank 4.1 out of 5. For small and medium-sized businesses, particularly those in Minnesota or those seeking equipment financing, Falcon National Bank is a strong option worth considering.
Disclaimer: The Falcon National Bank trademark is owned by Falcon National Bank, and its use herein is for reference purposes only, and it does not indicate sponsorship or endorsement from Falcon National Bank.
