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Coastal Federal Credit Union

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Description

Coastal Federal Credit Union offers a range of SBA lending options tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, they provide SBA 7(a) loans, which are ideal for working capital, equipment, or real estate purchases. Their experienced team guides borrowers through the application process, ensuring clarity and support at every step. The credit union’s commitment to community and member success makes them a trusted partner for small business owners in North Carolina and beyond. They also support various loan sizes, with approval amounts up to $30,000, making them accessible for small-scale projects and startups. Their expertise in SBA programs helps clients secure favorable terms and flexible repayment options, fostering sustainable business growth.

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Q&A

Lender Type
Commercial Bank
Google Rating
2.8
Google Review Count
86
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loan programs and small business financing solutions, providing personalized support for business growth and development.
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 may be accommodated based on availability.
Question 3
What are the hours of operation?
Answer 3
The branch operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, certain loan processing and application fees may apply depending on the service.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves members of the credit union, which requires membership eligibility, but they also offer services to small business owners within their community.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 or higher is generally preferred for loan qualification.
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 complexity of the loan and completeness of documentation.
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