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First Basin Credit Union

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Description

First Basin Credit Union offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support for growth and development. With a focus on the Odessa community, this institution provides flexible loan options backed by the SBA 7(a) program, making it easier for businesses to access capital for various purposes including expansion, equipment purchase, and working capital. Their experienced team guides clients through the application process, ensuring clarity and support at every step. The credit union specializes in serving local entrepreneurs and small business owners, fostering economic growth within the region. They are committed to providing personalized service and competitive rates, making them a reliable partner for your business funding needs. Whether you’re starting a new venture or expanding an existing one, First Basin Credit Union aims to facilitate your success with tailored financial solutions and dedicated support.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.7
Google Review Count
783
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender offering small business loans, including 7(a) loans, to support business growth and expansion in the Odessa area. You can find personalized assistance and access to capital tailored to your business needs.
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 specialist, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
Typically, the lender operates during regular banking hours, from 9 AM to 5 PM, Monday through Friday, but it"s best to confirm directly.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply consulting or applying; however, loan origination and closing costs may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small business owners in the Odessa region, focusing on local entrepreneurs and members of the credit union.
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 approval depends on overall financial health and business viability.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes 2 to 4 weeks, depending on the completeness of your application and documentation.
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