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Farmers and Merchants State Bank of Pierz

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Description

Offering comprehensive SBA lending options, this financial institution specializes in supporting small businesses with access to capital through various SBA programs. Whether you’re seeking funding for expansion, equipment, or working capital, they provide tailored solutions to meet your needs. Their experienced team guides clients through the application process, ensuring clarity and support at every step. With a focus on personalized service, they work closely with borrowers to understand their unique circumstances and help secure the best possible financing options. The bank’s commitment to small business growth is evident in their flexible lending criteria and dedicated customer service. Located conveniently in Pierz, MN, they serve local entrepreneurs and businesses, fostering economic development in the region. Their SBA program history highlights their extensive experience and success in facilitating small business loans, particularly through the SBA 7(a) program, with approval amounts reaching up to $320,000. This institution is dedicated to helping startups and established businesses alike achieve their financial goals with reliable and accessible SBA-backed loans.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.2
Google Review Count
19
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loans and small business financing options to help entrepreneurs grow their businesses. You can find assistance with SBA 7(a) loans, microloans, and other tailored financial solutions. Their team provides guidance throughout the loan process to ensure you get the support you need.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to meet with their SBA lending specialists, but walk-ins are also welcome during business hours. Calling ahead can help ensure dedicated time for your needs.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 8:30 AM to 5:00 PM. It"s best to check ahead for any holiday hours or special closures.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for visiting the bank; however, loan applications and processing may involve standard fees and interest charges based on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small business owners within the region, though they may consider out-of-area applicants on a case-by-case basis.
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, but higher scores can improve approval chances.
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 complexity of the application and completeness of documentation.
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