Community 1st CU
Description
Community 1st CU offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, they assist clients through the SBA 7(a) loan program, providing funding options up to $350,000. Their team is dedicated to helping entrepreneurs access capital efficiently and with favorable terms, making them a reliable partner for business development in the Ottumwa area.
Location
Review
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Q&A
Lender Type
Commercial Bank
Google Rating
3.4
Google Review Count
24
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused credit union offering banking and SBA loan services to small businesses and members in the Ottumwa area. You can access various financial products, including SBA 7(a) loans, personal banking, and business support services to help you grow your enterprise.
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-in consultations are also available during business hours for initial inquiries.
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 some services available by appointment outside regular hours.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for basic account inquiries or consultations; however, specific 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
Membership is open to residents of the Ottumwa area and individuals who meet the credit union"s membership criteria, primarily serving local community members and small business owners.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is generally preferred, but other factors such as business performance and collateral are also considered.
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 completeness of the application and supporting documentation.