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The First State Bank of Rosemount

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Description

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses with various loan programs. Whether you’re seeking funding for expansion, equipment, or working capital, they provide tailored solutions to meet your needs. Their experienced team guides clients through the application process, ensuring clarity and efficiency. With a focus on small business growth, they also support startups and established companies alike. Their expertise includes SBA 7(a) loans, which are ideal for a wide range of business purposes, and they are committed to helping entrepreneurs access the capital they need to succeed. Located in Rosemount, Minnesota, they serve local businesses with personalized service and flexible financing options. Their loan offerings include support for industries such as hospitality, retail, manufacturing, and more. They aim to foster economic development within their community by providing accessible funding options and expert guidance. Whether you’re a new business or looking to expand, this bank offers the resources and support necessary to achieve your goals.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.6
Google Review Count
35
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 assistance with loan applications, industry-specific funding options, and personalized support for growing your business.
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.
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 advisable to contact them directly for specific hours or after-hours appointment options.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, loan processing and application fees may apply depending on the loan type and amount.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small businesses within the local community, 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 typically required, though stronger credit profiles improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 2 to 4 weeks, depending on the completeness of documentation and loan complexity.
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