Whether you're building a new business or ready to expand a current one, a business construction loan can help you finance the building process.
Loan draws are available as you need them throughout the construction timeline. Your dedicated Commercial Officer works with you to ensure the project stays on track to hit completion dates. Our Commercial Lending team is friendly, knowledgeable, and local. We develop relationships with business owners that last for many years.
In addition, Magnifi Financial partners with several agencies to obtain GAP financing and low-cost solutions for your business' needs. Participation with these agencies help provide cost-effective solutions to your business. Some of the agencies Magnifi Financial participates with include:
- Small Business Administration (SBA) - Click here to learn about our SBA Preferred
- The Initiative Foundation
- Local Economic Development Associations
- US Department of Agriculture (USDA)
Competitive Rates
As the largest commercial-lending credit union in Minnesota, we are able to provide our business members with low loan rates.
Low Fees
Magnifi Financial has very competitive terms for businesses which include low fees. We make sure you're comfortable with all of the terms of your loan or deposit account.
SBA
SBA has great programs available for new businesses and our preferred lender status helps you get that financing faster and easier.
Let's Build Something Together
For every stage of your business, Magnifi Financial can help provide the financing for new or expansion construction
New facility for an existing business
Expansion on a Current Facility
New Business Facility
Get Started
Click here to learn more about what you'll need for your new business account.
Get In Touch Online
Fill out our online form with some information about your business and the products or services of interest. Your local Commercial Officer will be in touch within 1-2 business days.
Visit in Person
You can open a business account or loan at any Magnifi Financial location. Each location has a designated Commercial Officer, but we recommend you call ahead to make an appointment.
Call Us
We have a dedicated phone line for business members, which will help you reach someone who can help faster and save you precious time.
Business and Commercial Loan Options
Check out some of the other business loan options available with Magnifi Financial
Start-Up Business
Commercial Real Estate