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BOM Bank

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Description

Offering comprehensive SBA lending services, this financial institution specializes in providing small business loans to support growth, expansion, and operational needs. With a focus on the local community, it caters to entrepreneurs seeking funding through the SBA 7(a) program, among others. The bank is equipped to handle loan amounts up to $2,250,000, making it suitable for a variety of business sizes and industries. Its experienced lending team guides clients through the application process, ensuring clarity and support at every step. Whether you’re starting a new venture or expanding an existing business, this lender offers tailored solutions to meet your financial goals. Located conveniently in Natchitoches, Louisiana, the bank is committed to fostering local economic development while maintaining strong relationships with its clients. The bank’s expertise in SBA programs ensures that small business owners have access to flexible financing options, competitive rates, and personalized service. Its dedication to community growth is reflected in its extensive support for local entrepreneurs and small businesses across the region.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.7
Google Review Count
38
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs, including the 7(a) loan, to help small businesses access funding for growth and operational needs. You can find personalized financial solutions, expert guidance, and support for various business stages. The bank is dedicated to serving local entrepreneurs and fostering economic development in the Natchitoches area.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is 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 the necessary documentation and streamline the process.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM. It is advisable to contact the branch directly for any special hours or holiday schedules.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to simply visit or inquire; however, SBA loans involve standard fees such as guaranty fees and closing costs, which vary based on the loan amount and terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and entrepreneurs in the Natchitoches region, but it is open to any qualified applicant meeting the SBA loan requirements.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally required, 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 typically takes between 30 to 60 days, depending on the completeness of your application and the complexity of your business financials.
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