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1st Security Bank of Washington

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses through various loan programs. Their expertise includes SBA 7(a) loans, which are ideal for working capital, equipment purchases, and business expansion. They provide tailored financing options to meet the unique needs of small business owners, ensuring accessible funding solutions. The bank’s experienced team guides clients through the application process, helping them secure funding up to significant approval amounts, with the largest recorded approval reaching $558,000. Located in Mountlake Terrace, Washington, they serve a broad client base within the region and beyond, emphasizing personalized service and financial stability.

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Lender Type

Commercial Bank

Google Rating

4.9

Google Review Count

533

Question 1

What is this place and what can I find here?

Answer 1

This is a bank that offers SBA loans and small business financing solutions designed to help entrepreneurs grow and succeed. You can find personalized lending options, expert guidance, and access to funding up to hundreds of thousands of dollars. They focus on supporting small businesses with tailored financial services in the region.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to ensure personalized service, but walk-ins may be accommodated depending on availability. Calling ahead can help streamline your visit and prepare the necessary documentation.

Question 3

What are the hours of operation?

Answer 3

Standard hours are typically Monday through Friday from 9 am to 5 pm, but it is best to check directly with the branch for specific hours or after-hours appointment options.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for simply visiting or inquiring; however, loan products may involve origination fees, closing costs, and interest charges as outlined in your loan agreement.

Question 5

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

Answer 5

This bank primarily serves small business owners and residents within the region, but eligibility depends on meeting specific financial and credit criteria for loan approval.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

Typically, a minimum personal credit score of 650 is preferred, though higher scores may improve approval chances and loan terms.

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 completeness of your application and supporting documentation.

1st Security Bank of Washington

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