Bank of Oak Ridge

This is a bank that offers SBA loan programs designed to help small businesses access financing for various needs. You can find assistance with loan applications, guidance on SBA programs, and personalized support for your business growth.

It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours. Calling ahead can help you prepare and streamline your visit.

Bank of Oak Ridge's lobby is open Monday through Friday from 9:00 AM to 5:00 PM. Drive-up hours extend to 6:00 PM on weekdays. Please call (336) 662-4900 to confirm current hours or schedule an appointment.

There are no fees to access basic consultation services; however, standard loan application and processing fees may apply if you proceed with financing.

This bank primarily serves local small business owners in the Oak Ridge area, but they welcome qualified applicants from surrounding regions as well.

A minimum personal credit score of 620 is generally required to qualify for SBA loans through this bank.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of your application and documentation.

Bank of Oak Ridge is closed Sundays but offers limited Saturday drive-up service from 9:00 AM to 1:00 PM. Lobby service is Monday through Friday only.

Bank of Oak Ridge is located in North Carolina — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Bank of Oak Ridge, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Bank of Oak Ridge itself, which runs its own lending under its own ownership. If you work at Bank of Oak Ridge, you can claim this listing from this page to manage it.

The core details for Bank of Oak Ridge — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Bank of Oak Ridge before applying. If you represent Bank of Oak Ridge, claim this listing to keep its information up to date.

You can reach Bank of Oak Ridge by phone at (336) 662-4900, online at bankofoakridge.com, or via their contact form at https://www.bankofoakridge.com/contact-us/. For SBA loans, ask for their business lending department.

Based on its approved SBA loans, Bank of Oak Ridge most often finances businesses in restaurants & food service, construction & contractors, general retail, fitness & recreation, manufacturing, and automotive repair & services. This reflects Bank of Oak Ridge's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Bank of Oak Ridge which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Bank of Oak Ridge participates in SBA Express depends on its specific SBA lending authority. Contact Bank of Oak Ridge and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Bank of Oak Ridge can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Bank of Oak Ridge's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Bank of Oak Ridge directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Bank of Oak Ridge what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Bank of Oak Ridge to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Bank of Oak Ridge to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Bank of Oak Ridge weighs this case by case under its own policy, so be upfront about your history and ask Bank of Oak Ridge how it evaluates prior bankruptcies.