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Farmers State Bank of Underwood

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Description

Farmers State Bank of Underwood 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 guidance throughout the loan process, ensuring clients understand their options and requirements. The bank specializes in SBA 7(a) loans, which are versatile and suitable for a variety of business purposes including working capital, equipment purchase, and real estate acquisition. Their experienced lending team works closely with borrowers to develop customized financing solutions that align with their business goals. The bank’s commitment to community banking means they prioritize local businesses and understand the regional economic landscape. They support businesses in the Underwood area and can also serve clients across Minnesota, providing accessible and reliable SBA loan options. Whether you’re a startup or an established enterprise, Farmers State Bank of Underwood aims to facilitate your growth with flexible lending options and attentive customer service.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.3
Google Review Count
3
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA loan programs, personal banking, and business financing solutions tailored to local businesses and entrepreneurs.
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 are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 8:30 AM to 4:30 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit the branch; however, loan application and processing fees may apply depending on the loan type.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and businesses within the local community and surrounding regions, but they also welcome qualified applicants from broader areas.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is typically required for loan consideration.
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 complexity of the loan and completeness of the application.
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