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Wilmington Savings Fund Society FSB

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Wilmington Savings Fund Society FSB
Wilmington Savings Fund Society FSB

Description

Wilmington Savings Fund Society FSB offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support. With a focus on supporting local entrepreneurs, this institution provides a range of loan options including the popular SBA 7(a) program. Whether you’re looking to expand your operations, purchase equipment, or acquire real estate, they can assist with funding solutions up to significant approval amounts, such as $225,000. Their experienced team understands the nuances of SBA loans and works closely with clients to simplify the application process and ensure timely approval. Located at 500 Delaware Ave in Wilmington, DE, they serve a broad client base across the region, emphasizing personalized service and flexible lending criteria to help small businesses thrive.

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Q&A

Lender Type
Commercial Bank
Google Rating
5
Google Review Count
2
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loan programs designed to support small businesses with funding solutions for growth, real estate, equipment, and more. You can find expert assistance in navigating SBA lending options tailored to your business needs.
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 specialist, but walk-ins may be accommodated depending on availability. Calling ahead can help you prepare for your visit.
Question 3
What are the hours of operation?
Answer 3
Typically, the bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s best to confirm hours beforehand as they may vary on holidays or special occasions.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply inquiring or applying for SBA loans, but certain service or processing fees may apply during the loan approval process. These are discussed upfront during your consultation.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This institution primarily serves small businesses in the Wilmington area and surrounding regions, but eligibility depends on meeting specific lending criteria. Businesses must generally operate within the geographic scope and meet credit 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 typically recommended, though higher scores can improve approval chances. The exact requirement may vary based on the loan specifics and borrower profile.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process usually takes between 30 to 60 days, depending on the completeness of your application and the complexity of your loan request. Working with an experienced loan officer can help expedite the process.
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