The first thing you’ll do is connect with a Flagship banker to discuss your long-term business goals and some of the challenges you're facing today. After your discussion and document review, your banker will provide you with a general loan proposal outlining how much you may be eligible to borrow as well as what the next steps look like.
What to bring/expect: All due diligence documents to review with the banker. Not sure what to bring? Download this commercial loan checklist to get started.
During this phase, you’ll provide Flagship with a letter of intent, purchase contract, or more specific details on your loan request. Your banker will review the documents you’ve provided to validate the required information in order to get an approval decision. It is common during this phase for multiple questions and answer periods, depending on transaction complexity, to ensure that Flagship and you are structuring a transaction that meets your needs.
Your information will be provided to our credit team to ensure the loan package aligns with Flagship’s credit philosophy. After review, a formal term sheet is issued to you.
Once you’ve signed the commitment letter, the closing process starts. You’ll work with your banker to gather all the required documents to close and fund your loan.
Once your loan is closed, we don't pass you off into a serving matrix. Your lender will stay with you and reach out regularly to check in, discuss insights as well as offer any potential business guidance. We’re always here to support your business needs!
We've been around since 1875 so we've seen and experienced a lot over the years. One item that hasn't changed is our commitment to providing great rates, being personal and friendly, having great technology, and bringing banking to your doorstep. These are all ways we are Investing in you.
We're all in the Twin Cities Metro Area so stop on in to one of our six locations, give us a call or schedule a time for us to come to you. We're flexible and willing to work on your schedule.
*Every banking relationship is unique. This is a generalized representation of the lending roadmap clients can expect with Flagship Bank, however, deviations can and do occur.
