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1st State Bank

Offering comprehensive SBA lending options, this financial institution specializes in supporting small businesses with their funding needs. Whether you’re seeking a loan for expansion, equipment, or working capital, they provide tailored solutions to help your business grow. Their experienced team guides clients through the application process, ensuring clarity and efficiency. With a focus on the SBA 7(a) program, they have a proven track record of approving substantial loan amounts, up to $445,000, to qualified borrowers. Located in Saginaw, MI, they serve a diverse range of industries, emphasizing personalized service and flexible financing options. Their expertise extends across various sectors, including real estate, retail, and services, making them a versatile partner for small business owners. The bank is committed to fostering local economic development and supporting entrepreneurs at every stage of their business journey.

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Lender Type

Commercial Bank

Google Rating

4.6

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Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution offering SBA loan programs designed to support small businesses with funding for growth, real estate, and equipment. They provide personalized service and expert guidance throughout the application process.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to ensure dedicated assistance, but walk-ins may also be accommodated depending on availability. Contact the branch in advance for the best experience.

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 advisable to check with the branch directly for specific hours or after-hours appointment options.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for accessing basic information, but loan applications and processing involve standard fees such as origination and closing costs, which vary depending on the loan specifics.

Question 5

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

Answer 5

This bank primarily serves small business owners in the local region, but eligibility for SBA loans depends on meeting specific credit and business criteria, not residency alone.

Question 6

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

Answer 6

A minimum personal credit score of around 650 is generally preferred, but approval depends on overall creditworthiness and business viability.

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 complexity of the application and completeness of documentation.

1st State Bank

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