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First Commonwealth FCU

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Description

First Commonwealth FCU offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and development. With a focus on the 7A loan program, they provide flexible financing options for various business needs, including working capital, equipment purchase, and real estate acquisition. Their experienced team guides clients through the application process, ensuring clarity and support at every step. Located in Allentown, PA, the institution prides itself on personalized service and local expertise, making it a trusted partner for small business owners in the region. The bank’s commitment to small business success is reflected in their ability to approve loans up to $711,000, helping entrepreneurs realize their goals efficiently and effectively. Whether you’re a startup or an established business, First Commonwealth FCU is equipped to assist with your funding needs, offering both SBA-supported and traditional loan options to meet diverse financial requirements.

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Q&A

Lender Type
Commercial Bank
Google Rating
4
Google Review Count
222
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution that provides SBA loan programs and small business financing options designed to support local entrepreneurs and business owners in the region.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The branch operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, standard loan application and processing fees may apply.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This service is primarily available to members of the credit union, which includes residents and small business owners in the region.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally preferred for loan consideration.
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 completeness of the application and documentation provided.
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