Services: Loan Providers (Banks/Credit Unions)

Contact: Bud Baker, Duluth/North Shore Market President

Address: 2630 W Superior St , Duluth, MN 55806

Phone: 218.624.6206



You do business locally. We do, too. At Park State Bank, we understand our region’s economic conditions, and we make all of our lending decisions locally. We’re proud of the businesses that we have helped with loans. Our customers will tell you that they enjoy banking with Park State Bank. We offer many options to fit the needs of your business, from start-up to expansion to ownership transition.


Small Business Loans

At Park State Bank, we offer federally guaranteed Small Business Administration (SBA) loans to give start-ups and local businesses a chance to succeed.  SBA loans provide attractive interest rates, longer repayment terms, and lower down payments for qualifying businesses. This program is typically used to fund projects such as land and building acquisition/ improvements or refinancing.

  • Better interest rates
  • Longer repayment terms
  • Lower down payments
  • Local business bankers to help you throughout the loan term



Business Term Loans


Get a business loan from one of our full-service loan professionals, and let us help you succeed. We offer term loans with competitive rates and flexible terms. But what really sets us apart is our commitment to personal service.

  • Competitive interest rates
  • Flexible term options
  • Affordable payments
  • Local processing and underwriting
  • Quick decisions
  • Personal service
  • Experienced loan professionals


Letter of Credit

In today’s business, deals require more than just a handshake. A letter of credit from Park State Bank can help you get deals done by assuring your business partners that payment is guaranteed.


Offering a letter of credit not only helps your deals go smoothly, it can also replace an insurance company bond and give you additional negotiating power. It’s also a valuable tool as a business seeks to expand relationships with creditors.

  • Guarantee payments on large payments and contracts
  • Conserve cash ordinarily used for security deposits
  • Can replace insurance company bond
  • Enjoy a stronger negotiating position
  • Facilitate international business transactions

Real Estate and Land Development

Whether you’re buying property for your business or developing real estate as a business venture, we can provide you with the financing you need. Take advantage of our competitive rates and years of experience.


Our real estate lenders combine extensive knowledge and creativity when financing your land development needs. We offer both construction and long-term financing for residential and commercial properties.

  • Competitive rates
  • Short and long-term financing options
  • Construction financing available
  • Local processing and underwriting
  • Quick decisions
  • Personal service
  • Experienced loan professionals


Working Capital Lines

When your company needs financing for immediate and short-term needs, Park State Bank is there to assist you. We offer working capital lines of credit to help you cover operating costs, seasonal shortages, and other temporary needs.

Get pre-approved so that this line of credit is waiting for you when you need it. You don’t pay any interest until you use it, so why not apply today? With a working capital line, you’re ready for anything!


  • Use funds as you need them
  • Pay interest on only what you use
  • Easy access to line of credit
  • Competitive rate of interest
  • Affordable minimum payments
  • Pay it off and use it again


Park State Bank serves Northeastern Minnesota, Duluth, Superior, North Shore, Minneapolis and St. Paul.