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First Reliance Bank

First Reliance 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 the 7A loan program, the bank provides flexible financing options that can be used for working capital, equipment purchase, or real estate acquisition. Their experienced lending team works closely with clients to understand their unique needs and craft solutions that align with their business goals. The bank emphasizes personalized service, quick turnaround times, and competitive rates to help entrepreneurs succeed. Located in Florence, South Carolina, they serve a diverse range of industries, providing accessible and reliable SBA loan options to foster local economic development and business prosperity.

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Lender Type

Commercial Bank

Google Rating

4.3

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Question 1

What is this place and what can I find here?

Answer 1

This is a local SBA lender offering financing options for small businesses, including SBA 7A loans, to support growth and expansion needs.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to meet with their SBA specialists, but walk-in consultations may be available during business hours.

Question 3

What are the hours of operation?

Answer 3

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday, with appointments available outside regular hours upon request.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to apply for SBA loans; however, standard loan closing costs and fees apply upon approval.

Question 5

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

Answer 5

This lender primarily serves small business owners within the region, but eligibility is based on creditworthiness and business needs.

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

First Reliance Bank

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