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1st Summit Bank

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Description

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses through various loan programs. With a focus on the SBA 7(a) program, it provides tailored financing solutions to help entrepreneurs grow and succeed. The bank’s expertise includes assisting with working capital, equipment purchases, and real estate acquisitions, making it a versatile partner for small business owners. Located in Johnstown, Pennsylvania, it serves the local community and beyond, ensuring accessible and reliable financial support. The bank is committed to fostering economic development by providing flexible loan options and personalized service to meet diverse business needs. Its team of experienced lenders works closely with clients to navigate the application process and secure funding efficiently. Whether you’re starting a new venture or expanding an existing business, this lender offers the resources and guidance necessary to achieve your goals.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.3
Google Review Count
21
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender offering small business loans, primarily through the SBA 7(a) program, to help entrepreneurs grow and succeed in their ventures.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s best to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for consulting; however, loan fees and interest rates apply based on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small businesses within the region, but eligibility is based on creditworthiness and business criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 650 is generally required for loan approval.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of the application and documentation.
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