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The Bank of Commerce

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Description

The Bank of Commerce offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, working capital, or expansion. With a focus on personalized service, the bank provides SBA 7(a) loans, which are ideal for a variety of business needs including equipment purchase, real estate acquisition, and refinancing. Their experienced lending team guides clients through the application process, ensuring clarity and efficiency. The bank supports businesses in the Idaho Falls area and beyond, offering flexible terms and competitive rates. Whether you’re a startup or an established company, they aim to help you achieve your financial goals with tailored solutions and dedicated support. Their SBA program history reflects a strong track record of successful loan approvals, making them a reliable partner for your business financing needs. They also provide guidance on eligibility, documentation, and the application process to streamline your experience. The bank’s commitment to small business growth is evident through their ongoing support and community involvement, fostering economic development in the region.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.1
Google Review Count
19
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank offering SBA lending services, including 7(a) loans, to help small businesses access financing for various needs. You can find information on loan programs, application processes, and support services tailored to small business owners. The bank provides personalized guidance to assist you through every step of securing funding for growth or expansion.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours. Calling ahead can help you prepare and streamline your visit.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to contact the branch directly for specific hours or to schedule an appointment outside regular hours if needed.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for consulting or initial inquiries. However, loan processing and closing may involve fees such as guarantee fees, application fees, and closing costs, which are disclosed during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
The bank primarily serves residents and small business owners within its regional area, but eligibility for SBA loans is based on business criteria rather than residency alone. Non-residents may also qualify if they meet the program requirements.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 650 is generally recommended, but the exact requirement may vary depending on the loan specifics and the overall financial profile of the borrower.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation submitted.
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