Dieterich Bank
Dieterich Bank is an active SBA lender in Illinois, a bank offering SBA-guaranteed small-business loans. Currently rated 4.3 stars across 7 Google reviews.
$11M
in SBA approvals since 2010
18
SBA loans funded
Hotels & Lodging · Fitness & Recreation · Manufacturing
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Dieterich Bank
Dieterich Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, the bank provides various SBA loan programs including the popular 7(a) loan program, which helps entrepreneurs access capital with flexible terms. Their experienced team guides clients through the application process, ensuring clarity and efficiency. The bank's expertise extends to supporting businesses in diverse industries, especially those aligned with NAICS code 713940, which pertains to amusement parks and arcades. Whether you're starting a new venture or expanding an existing one, Dieterich Bank is committed to helping small businesses succeed by providing tailored financing solutions and expert advice. Their local presence in Effingham, Illinois, allows them to understand regional market dynamics and offer customized financial products to meet community needs.
Common questions about Dieterich Bank
What is this place and what can I find here?
This is a local bank offering SBA loan programs to small businesses in Illinois. You can find assistance with business financing, advice on loan options, and personalized banking services tailored to your needs.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours.
What are the hours of operation?
Dieterich Bank's Effingham branch lobby is open Monday-Friday 8:00 AM to 4:00 PM, with drive-thru hours Monday-Friday 7:30 AM to 5:30 PM. Please confirm with the branch for current hours.
Is there a fee to use this?
There are no fees for initial consultations; standard loan application and processing fees may apply depending on the loan type.
Who is this open to — anyone, or only residents/members?
This bank primarily serves small business owners and residents in Illinois, especially those in the Effingham region.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 620 is generally preferred for SBA loan applicants.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 45 days, depending on the completeness of your application and documentation.
Is this open on weekends?
Yes, Dieterich Bank's Effingham branch is open Saturday 8:00 AM to 12:00 PM for both lobby and drive-thru. Confirm with the bank for holiday closures.
How do I get there and where do I park?
Dieterich Bank notes it is easy to park right by their Effingham building. For accessible parking details, contact the branch directly.
Who owns or operates this listing?
This page is an independent directory listing for Dieterich Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Dieterich Bank itself, which runs its own lending under its own ownership. If you work at Dieterich Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Dieterich Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Dieterich Bank before applying. If you represent Dieterich Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Dieterich Bank by phone at (217) 540-1000 or online at dieterichbank.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Dieterich Bank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Dieterich Bank can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask Dieterich Bank directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Dieterich Bank participates in SBA Express depends on its specific SBA lending authority. Contact Dieterich Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Dieterich Bank can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Dieterich Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Dieterich Bank directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Dieterich Bank what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Dieterich Bank to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Dieterich Bank to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Dieterich Bank weighs this case by case under its own policy, so be upfront about your history and ask Dieterich Bank how it evaluates prior bankruptcies.
