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Fidelity Deposit and Discount Bank

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Description

Fidelity Deposit and Discount Bank offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support for growth and expansion. Specializing in SBA 7(a) loans, this institution provides flexible financing options with competitive terms to help entrepreneurs secure funding for various purposes including working capital, equipment, and real estate. Their experienced team guides clients through the application process, ensuring clarity and efficiency from start to finish. With a focus on personalized service, the bank aims to foster local economic development by supporting small business success stories in the Dunmore area and beyond. They also offer a range of banking products designed to complement SBA loans, making them a versatile partner for small business owners. Whether you’re a startup or an established enterprise, Fidelity Deposit and Discount Bank is committed to helping you achieve your financial goals with tailored solutions and dedicated support.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.5
Google Review Count
33
Question 1
What is this place and what can I find here?
Answer 1
This is a bank that offers SBA lending services, including 7(a) loans, to help small businesses secure financing for various growth needs. You can find personalized support, loan guidance, and banking products designed for small business success. Their team is dedicated to assisting entrepreneurs in navigating the loan process smoothly.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins may 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 from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to confirm hours directly with the branch before visiting, as hours may vary on holidays or special occasions.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations or inquiries. Loan-related fees such as guarantee fees, closing costs, and service charges may apply depending on the specific loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local small business owners and residents within the region. Eligibility for certain services may depend on residency or business location within the bank"s operational area.
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 recommended for SBA loan applicants, though higher scores can improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the completeness of the application and the complexity of the loan request.
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