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Collins Community Credit Union

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) loan program, they provide funding solutions for business expansion, equipment purchase, and working capital needs. Their experienced team is dedicated to guiding clients through the application process, ensuring a smooth experience from start to finish. Located conveniently in Cedar Rapids, they serve a diverse range of industries, emphasizing personalized service and flexible financing options. Whether you’re a startup or an established business seeking growth capital, this lender is equipped to meet your financing needs with competitive terms and dedicated support.

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Lender Type

Commercial Bank

Google Rating

4.3

Google Review Count

137

Question 1

What is this place and what can I find here?

Answer 1

This is a commercial bank offering SBA loan programs and small business financing solutions. You can find assistance with SBA 7(a) loans, guidance through the application process, and personalized support for your business funding 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-in visits are also accommodated depending 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 additional hours by appointment or special arrangements.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for initial consultations; however, standard SBA loan application and guarantee 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 and entrepreneurs in the Cedar Rapids area, but eligibility is based on meeting SBA and lending criteria rather than residency alone.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of around 650 is generally preferred, though other factors are also considered during the approval process.

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 complexity of the loan and completeness of the application.

Collins Community Credit Union

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