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First Resource Bank

Offering comprehensive SBA financing options, this commercial bank specializes in supporting small businesses with their funding needs. Whether you’re looking for working capital, equipment financing, or real estate loans, they provide tailored solutions to help your business grow and succeed. Their experienced team guides clients through the application process, ensuring clarity and efficiency from start to finish. With a focus on small business development, they serve a diverse range of industries, helping entrepreneurs access the capital they need to expand operations or start new ventures. Their commitment to personalized service and flexible lending criteria makes them a trusted partner for business owners seeking SBA-backed loans, including the popular 7(a) program. Located in Lino Lakes, Minnesota, they are well-positioned to serve local businesses while also supporting clients nationwide through their SBA offerings.

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Lender Type

Commercial Bank

Google Rating

4.6

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Question 1

What is this place and what can I find here?

Answer 1

This is a commercial bank that offers SBA loan programs designed to help small businesses secure funding for growth, equipment, or real estate projects. They provide personalized service and flexible financing 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 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 from 9:00 AM to 5:00 PM, Monday through Friday, but hours may vary, so it"s best to contact them directly for confirmation.

Question 4

Is there a fee to use this?

Answer 4

There are fees associated with SBA loans, including origination and closing costs, which are transparently disclosed during the application process.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This bank primarily serves small business owners and entrepreneurs, with lending support available nationwide, regardless of residency, provided eligibility criteria are met.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of 620 is generally required for SBA loan qualification.

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.

First Resource Bank

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