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Farmers National Bank

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Description

Farmers National Bank offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth, expansion, or operational needs. With a focus on the local community, this bank provides personalized guidance throughout the loan process, ensuring that clients receive the best possible terms and support for their business goals. Their SBA program expertise includes 7(a) loans, which are ideal for a variety of business purposes including working capital, equipment purchase, and real estate acquisition. The bank’s team is dedicated to helping entrepreneurs navigate the complexities of SBA loans, offering clear advice and flexible options to meet diverse needs. Whether you’re a startup or an established business, Farmers National Bank strives to facilitate your success with reliable financial solutions and attentive service. Their commitment to supporting local businesses makes them a trusted partner in the Phillipsburg area and beyond, with a proven track record of approving loans up to $310,000 for qualifying borrowers.

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Q&A

Lender Type
Commercial Bank
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs, including 7(a), with personalized service to help small businesses secure financing for growth and operations.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 8:30 AM to 5:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting; fees are associated with specific loan processing and closing costs.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and businesses within the community, but SBA loan programs are available to qualified applicants nationwide.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is typically required for loan approval.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 30 to 60 days, depending on the complexity of the loan and completeness of application materials.
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