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American Federal Bank

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Description

American Federal Bank offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, the bank provides various SBA loan programs, including the popular 7(a) loan program, to help clients secure funding up to $2,000,000. Located in Fargo, North Dakota, the bank specializes in serving local businesses but also supports clients across broader regions through its SBA offerings. Their experienced lending team guides borrowers through the application process, ensuring clarity and efficiency from start to finish. Whether you’re looking to purchase equipment, refinance debt, or expand your facilities, American Federal Bank is equipped to assist with flexible financing options aligned with SBA guidelines. The bank emphasizes quick turnaround times and competitive rates, making it a reliable partner for your business financing needs.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.2
Google Review Count
5
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loan programs designed to support small and medium-sized businesses with funding solutions tailored to their growth needs. You can find assistance with SBA 7(a) loans, guidance throughout the application process, and personalized financial services to help your business succeed.
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 accommodated depending on availability. Calling ahead can help streamline your visit and prepare necessary documentation.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates Monday through Friday from 9:00 AM to 5:00 PM local time. It"s advisable to confirm hours directly with the branch or through their website before visiting.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, standard SBA loan application and guarantee fees may apply depending on the loan terms. These fees are disclosed during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local businesses and residents within its regional area, but SBA loan programs are available to qualifying businesses nationwide, provided they meet the eligibility criteria.
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 can improve loan terms and approval chances depending on the overall application profile.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The typical underwriting process can take approximately 30 to 60 days, depending on the complexity of the application and completeness of submitted documentation.
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