Keeping your business healthy and growing often requires borrowing power.

The particular loan structure, timing and terms are as unique as your business. Your financing needs may include:

  • Equipment purchases
  • Inventory and Accounts Receivable
  • Business Expansion
  • New Product Development and Marketing
  • Business Acquisitions
Farmers State Bank is ready to address your needs with customized loan products.
We have experienced lenders and make decisions locally. We have lenders that live and work in the local community. Whether you are looking to start a new business or enhance an existing business, give us a call for a free consultation regarding your financing options.

  • Equipment Term loans
  • Lines of Credit for seasonal needs
  • Real Estate Term loans
  • SBA Financing
  • Vehicle Financing
  • Inventory and Account Receivable Financing
  • Fixed and variable rate financing available

For a free consultation contact Daniel Otten at 507-373-1945

Business Loan Staff:

Contact: Daniel Otten, Senior Commercial Lender
Daniel has the expertise you need, backed by over 30 years of experience in commercial and Ag lending. Prior to joining Farmers State Bank in 2004, Daniel owned and operated a consulting firm that specialized in business planning and financial modeling for small businesses. He has earned the designation of National Certified Lender -Business Banker with the Institute of Certified Bankers. Daniel can put his experience in risk and debt management strategies to work for you.

Daniel's specialties include: 
  • Understanding Credit Structures and Managing Risk
  • Analyzing Financials and Creating Projections
  • Use of SBA 504 and SBA 7a Loans
  • Overall Financial Management for Small Businesses

Contact: Deb Kenison, Relationship Manager
Deb has over 32 years of banking experience with a strong background in business services, and offering a full-service approach to meeting financial needs. She is also very active in community events and organizations.

Deb's specialties include:
  • Business conveniences
  • Business deposit products
  • Business online banking

Contact: Cally Skinner, Commercial Loan Assistant
Born in Albert Lea and raised in Owatonna, Cally moved her family back “home” to Albert Lea in 2007. With 15 years in banking, Cally has the expertise to provide comprehensive service to business customers. Her diverse work background gives her the ability to quickly understand complex financial situations and help find creative solutions for your banking needs. Cally’s dedication to customer service makes her a valuable partner for your business.

Cally’s specialties include:

  • Loan Documentation Specialist
  • Troubleshooting Customer Issues
  • Loan Operations and Servicing