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DFCU Financial

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Description

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses with various loan programs. They provide tailored financing options for startups, expansions, and equipment purchases, ensuring flexible terms to meet diverse business needs. With a focus on the manufacturing sector, they facilitate growth through SBA 7(a) loans, including working capital, real estate, and equipment financing. Their experienced team guides clients through the application process, helping secure funding up to $350,000. Located in Dearborn, Michigan, they serve local businesses while also supporting nationwide borrowers through their SBA programs. Their commitment to small business success is reflected in their personalized service and competitive rates, making them a reliable partner for entrepreneurs seeking growth capital.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
150
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution that offers SBA loan programs designed to support small business growth and development. You can find information about various loan options, application procedures, and personalized assistance for securing funding.
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 may also be available depending on staffing and availability.
Question 3
What are the hours of operation?
Answer 3
Typically, the branch operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to call ahead to confirm hours or schedule an appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to inquire about or apply for SBA loans, but specific loan products may include origination or closing costs which will be disclosed during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This institution primarily serves small business owners and entrepreneurs, with a focus on those in the manufacturing sector, but they support applicants from across the country for SBA programs.
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 approval depends on the overall financial profile and business viability.
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 application documents and the complexity of the loan request.
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