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Security State Bank of Aitkin

Security State Bank of Aitkin
Security State Bank of Aitkin

Description

Security State Bank of Aitkin offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, equipment, or working capital. With a focus on personalized service, the bank provides various loan options, including SBA 7(a) loans, to help entrepreneurs achieve their goals. Located in Aitkin, Minnesota, the bank is committed to serving local businesses while also supporting clients across the region. Their experienced team guides borrowers through the application process, ensuring clarity and efficiency. The bank’s primary NAICS code, 532310, indicates a strong emphasis on equipment and rental/leasing services, aligning with their expertise in supporting business expansion. They have approved loans up to $28,000, demonstrating their capacity to assist small-scale projects and startups. Whether you need a small loan or a larger financing package, Security State Bank of Aitkin aims to be a reliable partner for your business needs.

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Q&A

Lender Type
Commercial Bank
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs and financial services tailored for small businesses in the Aitkin area and beyond. You can find assistance with loan applications, business planning, and financing options to support your growth goals.
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-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for visiting the bank; however, loan processing and service fees may apply depending on the specific financing arrangement.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small business owners, but eligibility for SBA loans is based on qualification criteria rather than residency alone.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is generally preferred, though higher scores can improve loan approval chances.
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 loan and completeness of documentation.
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