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Valley Economic Development Partners, Inc.

Valley Economic Development Partners, Inc. offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and development. With a focus on fostering economic growth in the Youngstown area, this lender provides various loan options including the SBA 7(a) program, which is ideal for working capital, equipment, and real estate needs. Their team works closely with borrowers to understand their unique financial situations and craft solutions that align with their business goals. The institution emphasizes personalized service, quick turnaround times, and flexible lending criteria to help entrepreneurs secure the funding they need to succeed. Whether you are a startup or an established business, Valley Economic Development Partners, Inc. aims to support your journey with expert guidance and accessible financing options. They are committed to strengthening the local economy by providing loans that empower small business owners to expand, innovate, and create jobs in the community.

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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 financial institution that provides SBA loan programs and small business financing solutions. You can find support for business growth, real estate, equipment, and working capital needs tailored to small businesses in the Youngstown area.

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 be available during business hours depending on staffing.

Question 3

What are the hours of operation?

Answer 3

Typically, the branch operates from Monday to Friday, 9 am to 5 pm, but it is advisable to contact the branch directly for specific hours or to schedule an appointment.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to apply for a loan, but certain service fees, guarantee fees, or closing costs may apply depending on the loan type and terms.

Question 5

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

Answer 5

This lender primarily serves small businesses in the Youngstown region, but eligibility is based on business criteria and creditworthiness 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 around 640 is generally recommended, though specific requirements may vary based on the loan program and borrower profile.

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.

Valley Economic Development Partners, Inc.

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