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The First National Bank in Sioux Falls

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Description

Offering comprehensive SBA loan services, this commercial bank specializes in supporting small businesses with funding solutions tailored to their needs. Whether you’re seeking financing for expansion, equipment, or working capital, they provide expert guidance through the SBA 7(a) program, leveraging their extensive experience in small business lending. Located conveniently at 100 S Phillips Ave in Sioux Falls, they serve a broad range of industries, helping entrepreneurs access the capital necessary to grow and succeed. Their team is committed to simplifying the loan process, providing personalized support from application to approval, and ensuring clients understand all available options. With a focus on building long-term relationships, they aim to be a trusted partner for local businesses seeking financial growth opportunities. Their expertise extends across various sectors, with a particular strength in retail and service industries, making them a go-to resource for small business owners in the region. They support a variety of SBA programs, including the 7(a) and 504, to meet diverse funding needs. Whether you’re starting a new venture or expanding an existing one, this bank offers flexible terms and competitive rates designed to help your business thrive.

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Q&A

Lender Type
Commercial Bank
Google Rating
4
Google Review Count
24
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs and small business financing solutions. You can find expert guidance, personalized service, and access to various SBA loan options to support your business growth.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours for general inquiries.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s advisable to call ahead for specific appointment times or special services.
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 bank primarily serves local small businesses and residents in the Sioux Falls area, but they also support regional clients seeking SBA financing.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a personal credit score of 640 or higher is preferred, though specific requirements may vary based on the loan and borrower profile.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 30 to 45 days, depending on the complexity of the loan and completeness of the application.
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