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Northern State Bank of Virginia

Northern State Bank of Virginia offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support. With a focus on small business growth, the bank provides various loan options including SBA 7(a) loans, which are ideal for working capital, equipment, or expansion needs. The bank’s experienced team guides clients through the application process, ensuring clarity and support at every step. Their expertise spans multiple industries, helping entrepreneurs access the capital they need to succeed. Whether you’re starting a new venture or expanding an existing business, Northern State Bank of Virginia is committed to fostering local economic development and providing personalized financial solutions. The bank maintains a strong reputation for customer service, quick approval times, and flexible lending options designed to meet diverse business needs. With a primary NAICS code of 621320, they have significant experience in healthcare-related financing, supporting clinics, medical offices, and healthcare providers. Their loan approval amounts can reach up to $367,100, making them a reliable partner for a variety of funding requirements.

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Lender Type

Commercial Bank

Google Rating

4.2

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Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution offering SBA loan programs and small business financing solutions. You can find support for business expansion, working capital, and healthcare sector funding.

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-ins may be accommodated depending on availability.

Question 3

What are the hours of operation?

Answer 3

Typically, the bank operates from 9 AM to 5 PM, Monday through Friday, but it"s best to confirm directly with the branch.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to access basic information, but loan processing and application fees may apply depending on the specific financing arrangement.

Question 5

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

Answer 5

This lender primarily serves local businesses and residents in the Virginia, MN area, but may consider applications from outside the region under certain conditions.

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 typically required, 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 generally takes 2 to 4 weeks, depending on the completeness of your application and supporting documents.

Northern State Bank of Virginia

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