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Mask Up, Minnesota

Effective 07/25/2020 Community Bank Owatonna will require all individuals entering the bank to wear a mask as required by MN Emergency Executive Order 20-81. See the MN Department of Health for more information.

Bill Pay Maintenance

During the weekend of October 24-25, 2020 CBO will be conducting maintenance on our Digital Banking Suite Bill Pay product. Bill Payments will not be available from 10:00 PM Oct. 24 to 4:00 AM Oct. 25. We apologize for this inconvenience.

Community Investment Loans

Supporting Our Community

Would your business or farm like to expand, purchase new equipment, acquire more real estate, or increase inventory?  You may think those are just dreams during this challenging pandemic, but we are here to help make those dreams a reality!


We are proud to introduce Community Investment LoansThese loans are designed to assist you, our local businesses and farmers.  The program offers a 1.95% interest rate fixed for the first year, with the rate adjusting to float with the Wall Street Journal Prime Rate (currently 3.25%) following the first twelve months.


Community Investment Loans are available to any local business and farmer, no matter where you bank.  All participants are expected to maintain their primary deposit account relationship with CBO.  Existing CBO loans are not eligible for refinance into this program, however borrowers may refinance debt not currently held with our bank.  Loan funds may be utilized for most business and farm purposes that are repaid with regular term payments, including equipment, inventory, or real estate purchases.  The first payment will be delayed for 90 days as another tool to help borrowers manage their cash flows.  Operating lines of credit are not eligible under the program.  Existing bank loan underwriting standards will apply.


Loan Calculator

Your Lending Team

Tim Kluender
Tim Kluender President/CEO About Me
Steven Grams
Steven Grams Executive Vice President NMLS ID: 482932 About Me
Jeff Goergen
Jeff Goergen Vice President NMLS ID: 705780 About Me

Get Started with Your Community Investment Loan Application

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