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Equipment Finance Advisor's Industry Directory

Stearns Bank Equipment Finance Division

500 13th Street
Albany, MN 56307

Main Phone: 1-800-247-1922
Web Site:

LinkedIn: company page on LinkedIn
Facebook: company profile on Facebook
Twitter: follow on Twitter

Diane Notch  |  Senior Vice President/GM
phone: 1-800-247-1922

Daryn Lecy  |  Vice President of Operations
phone: 1-800-247-1922

Jim Peach  |  VP/Sales Manager
phone: 1-800-247-1922

Michelle Fuchs  |  VP/Business Development
phone: 1-800-247-1922

Company Information
Financial Institution Type: Bank, Bank Leasing Company
In Business Since: 1912
Geographic Coverage: 
  • National
Financial capabilities: 
  • Agriculture
  • Auto/Light Truck/ Utility Vehicles
  • Bus
  • Construction
  • Distribution
  • Fitness
  • Industrial Equipment
  • Laundy/Dry Cleaning
  • Machine Tool
  • Manufacturing
  • Materials Handling
  • Medical/ Dental
  • Office Equipment
  • Packaging
  • Restaurant
  • Trucks/Trailers
  • Waste Removal
  • Woodworking
Annual Funded Volume: 
  • $500MM - $1.0 Billion
Credit Quality: 
  • "A" Credits
  • "B" Credit
  • "C Credits"
  • Investment Grade
  • Near Investment Grade
Average Transaction Underwritten: 
  • < $100K
  • $100K - $1MM
Terms Underwritten: 
  • 1-5 years
Financial Products Offered: 
  • Acquisition Finance
  • Conditional Sales Contracts/Finance Leases
  • Franchise Finance
  • Operating Leases
  • Revolving Credit Facilities
  • Term Loan
  • Unsecured Lending
  • Real Estate Finance
Special Programs: 
  • Application Only
  • Broker Transactions
  • Portfolio Purchases
  • Vendor Finance Programs
Association Memberships: 
  • American Bankers Association
  • Equipment Leasing & Finance Association
  • National Equipment Finance Association

Stearns Bank is a $2 billion, top-performing bank specializing in nationwide equipment financing with more than $600 million in equipment sales annually. The Equipment Finance Division finances new or used commercial equipment in various industries including healthcare, construction, agricultural, paving, machine tools, and vocational vehicles. The average ticket size is $50,000, however as a Preferred SBA Lender, Stearns can provide financing up to $5 million.

Stearns Bank’s goal is to develop an effective strategy to get you the equipment your business needs right away. As employee owners, each employee takes special pride in consistent and efficient customer service while focusing on achieving high performance. When you finance equipment with Stearns Bank you’ll experience the difference:

• Fast turnaround time (typically one to two hours).
• Top-notch customer service, your call answered on the first ring.
• A lender you stay with from start to finish.
• Flexible finance and lease programs.

At Stearns Bank, it’s all in our trademarked slogan: “We get the job done.”

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