Credit Union One
Description
Offering comprehensive banking services tailored for small businesses, this financial institution specializes in SBA loans, including the popular 7(a) program. It provides flexible financing options to help entrepreneurs grow and expand their operations. With a focus on personalized service, it supports businesses across various industries, especially those in manufacturing and construction sectors.
Location
Review
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Q&A
Lender Type
Commercial Bank
Google Rating
4
Google Review Count
440
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs, including the 7(a) loan, to help small businesses access financing for growth and expansion in the Ferndale area.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment, but walk-ins are also welcome during business hours for assistance with SBA loan inquiries.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit or inquire; however, SBA loans may have associated fees such as guaranty and closing costs.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and residents in the Ferndale area, but eligibility depends on meeting 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 640 is generally preferred for guarantors.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 45 days, depending on the completeness of the application and documentation.