Stearns Bank N.A.

Stearns Bank N.A.
Equipment Finance Division
500 13th Street, PO Box 750
Albany, MN 56307
320.845.2149
www.stearnsbank.com

Contact Information

Daryn Lecy, Vice President of Operations
320.845.2149
darynl@stearnsbank.com

Comments

Stearns Bank N.A. Equipment Finance Division is a leader in direct financing with fast and personal service. We specialize in creating customized financing to fit the individual needs of vendors and end-users in a variety of industries. We are actively looking to purchase small ticket lease portfolios. Our bank is also a Preferred SBA Lender!

General Information

Funding Information

Company Type

  • Bank

In Business Since

  • 1964

Trade Associations

  • ELFA
  • NEFA

Funding Source Type

  • Lessor

Source of Funds

  • Internal

Annual Funded Volume

  • $400MM

Transaction Profile

Deal Size Range

  • $0-$100K
  • $100-$250K

Term

  • 1-3 Years
  • 3-5 Years
  • 5-7 Years

Average Term

  • 48 Months

Products Offered

  • Finance Lease
  • Operating Lease
  • TRAC

Scope of Geographic Activity

  • National

Transaction Preferences

Equipment Categories

  • Agriculture
  • Auto/Light Truck
  • Bus/Mass Transit
  • Construction
  • Industrial/Manufacturing
  • Machine Tool
  • Materials Handling
  • Medical/Dental
  • Restaurant FF&E
  • Software/Hardware
  • Trucks and Trailers
  • Waste Disposal
  • Woodworking

Credit Quality

  • A Quality

Special Services

  • Application Only Programs
  • Brokers Welcome
  • Portfolio Purchases
  • Titled Vehicles

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