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First Bank and Trust of Memphis

First Bank and Trust of Memphis
First Bank and Trust of Memphis

Description

First Bank and Trust of Memphis offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and development. With a focus on the Memphis area, this bank provides various loan programs including the SBA 7(a) loan, which is ideal for working capital, equipment purchase, or real estate acquisition. Their experienced team works closely with clients to understand their unique needs and guide them through the application process, ensuring a smooth experience from start to finish. The bank’s expertise in SBA lending helps small business owners access the capital they need to expand their operations, purchase inventory, or refinance existing debt. They also offer personalized financial solutions, leveraging their local market knowledge to support businesses in achieving their goals. Whether you’re a startup or an established enterprise, First Bank and Trust of Memphis is committed to helping you succeed with flexible lending options and dedicated customer service.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.2
Google Review Count
5
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs and financial services to small businesses in the Memphis area, helping them access capital for growth and development.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment, but walk-ins are also welcome during business hours. Contact the branch to confirm availability.
Question 3
What are the hours of operation?
Answer 3
The branch operates from 9:00 AM to 5:00 PM, Monday through Friday. Hours may vary on holidays or special occasions.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic banking services, but loan application fees and closing costs may apply depending on the loan type.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners in the Memphis area, but they welcome qualified applicants from surrounding regions as well.
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, though other factors are also considered during the approval process.
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 complexity of the loan and completeness of the application.
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