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State Bank of the Lakes, National Association

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Description

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses with funding options tailored to various needs. Whether you’re seeking capital for expansion, equipment purchase, or working capital, they provide flexible loan programs designed to help your business grow. With a focus on personalized service, they assist clients through every step of the loan process, ensuring clarity and support from application to approval. Their SBA program expertise includes the 7(a) loan program, which is ideal for a wide range of business purposes. The bank’s experienced team understands the nuances of SBA lending, helping entrepreneurs secure the funding they need to succeed. Located in Antioch, Illinois, they serve local businesses while also supporting clients across the region. Their commitment to small business growth is reflected in their tailored approach and competitive loan offerings, making them a trusted partner for entrepreneurs looking to leverage SBA resources.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.4
Google Review Count
62
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution that offers SBA loan programs designed to help small businesses secure funding for growth and operational needs. You can find assistance with loan applications, guidance on SBA programs, and personalized support from experienced loan officers.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours.
Question 3
What are the hours of operation?
Answer 3
Typically, the bank operates Monday through Friday from 9:00 AM to 5:00 PM, but it"s best to contact them directly for specific hours or after-hours appointments.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit or consult; however, loan applications and processing may involve fees depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This institution primarily serves small business owners in the region, but eligibility for SBA loans is based on business criteria, not 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 around 640 is generally preferred, though higher scores improve 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 the application.
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