The bank will be closing at 1:00pm Monday 3/25 due to inclement weather.

Business Lending Center

At Northwoods Bank we specialize in small business lending.  The Business Lenders at Northwoods Bank are experienced and capable of handling any of your business borrowing needs.  As a local community bank, we are closely in touch with our community and our customers, but we still can offer all the business lending products of the “big” banks.  So if you want to bank where decisions are made locally and where your lender takes the time to understand your business and can customize your loan to meet your individual needs - you've come to the right place.  We can handle loans as small as $25,000 or well into the $Millions.

  • Commercial Real Estate Loans

    We offer financing for the purchase or construction of all types of commercial real estate property. We have financed retail stores, manufacturing facilities, office buildings, service buildings, convenience stores and grocery stores. We are especially strong in financing resorts and campgrounds. We even finance restaurants. We also offer loans for expansion or refinance of existing commercial property. Loans are secured by a mortgage on the commercial property. Loan terms are up to 24 months for construction and up to 20 years for permanent financing. Fixed and variable rates are available. Loan amounts range from 70 - 80 percent of the property value or purchase price.

  • Resort Loans
  • Equipment/Vehicle Loans
  • Inventory/Working Capital Loans
  • Lines of Credit
  • SBA 7(A) Loans
  • SBA 504 Loans

How To Apply

Northwoods Bank strives to reach loan decisions quickly, as we realize our customers are busy and want to get timely answers. To expedite the process, it is very helpful to come prepared and know what documents and information the business banker will need. Much of the documentation is required to comply with current regulations.

  • Existing Businesses

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

    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 days to a couple months, depending on the type and complexity of the loan.  We use local appraisers, attorneys and title companies to provide you with the fastest and best service possible.

    If you would like to start the application process, you may contact us at (218) 732-7221, email [email protected]  or fill out this contact form.

  • New / Start-up Businesses

Helpful Links

Small Business Development


The Minnesota Small Business Development Center (SBDC) provides professional assistance and guidance to new and existing small businesses.



Score is a non-profit organization of volunteers who provide one-on-one counseling to small businesses.

If you would like to start the application process, you may contact us at (218) 732-7221, email This email address is being protected from spambots. You need JavaScript enabled to view it. or fill out this contact form.

Servicing Park Rapids, MN And The Surrounding Areas

Family owned and operated since 1919

Our team members greet you with a smile and the expertise you are looking for!

  • 218.732.7221
  • 1200 First St E
    Park Rapids, MN 56470
    NMLS #416535

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