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Ballston Spa National Bank

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Description

Ballston Spa National Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on the local community, this bank provides various loan programs including the SBA 7(a) loan, which is ideal for working capital, equipment purchase, or real estate acquisition. Their team of experienced lenders works closely with clients to understand their unique needs and guide them through the application process, ensuring a smooth experience from start to finish. The bank supports businesses across multiple industries, providing flexible terms and competitive rates to help entrepreneurs succeed. Whether you’re a startup or an established enterprise, Ballston Spa National Bank is committed to fostering economic development in the region by offering tailored financial solutions that meet your business goals. Their expertise in SBA lending makes them a reliable partner for small business owners looking for accessible funding options and personalized service.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.4
Google Review Count
5
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender offering small business financing solutions, including SBA 7(a) loans, with personalized service and regional expertise to support your business needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with appointments available outside regular hours upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; standard loan application and closing fees 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 business owners within the regional community, 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 around 640 is typically preferred, though higher scores improve approval chances.
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 application and completeness of documentation.
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