Mid Minnesota FCU
Description
Providing comprehensive financial services tailored to small businesses, this lender specializes in SBA loans including the 7(a) program. They offer flexible lending options to help entrepreneurs secure funding for various needs such as working capital, equipment purchase, or business expansion. With a focus on personalized service, they assist clients through every step of the loan process, ensuring clarity and support. Their experienced team understands the nuances of SBA lending and works diligently to match borrowers with suitable loan products. Whether you’re a startup or an established business, this lender aims to facilitate growth and stability with competitive terms and dedicated guidance.
Location
Review
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Q&A
Lender Type
Commercial Bank
Google Rating
3.6
Google Review Count
55
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank offering SBA loan programs, including the 7(a) loan, to small businesses. You can find personalized financial services, guidance on loan options, and support throughout the application process.
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 specialist, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
Business hours are typically Monday through Friday from 8:00 AM to 5:00 PM, but it"s best to call ahead for specific hours.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for inquiring or applying for SBA loans; however, standard loan fees and closing costs may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small business owners and entrepreneurs who meet their lending criteria, regardless of residency, as long as the business qualifies.
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, but other factors are also considered during underwriting.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The process typically takes 30 to 60 days, depending on the complexity of the application and completeness of documentation.