First Federal Bank & Trust
First Federal Bank & Trust is an active SBA lender in the United States, a bank offering SBA-guaranteed small-business loans. Currently rated 4.2 stars across 13 Google reviews.
About First Federal Bank & Trust
First Federal Bank & Trust offers comprehensive SBA loan services tailored to small businesses seeking financial support for growth, working capital, or acquisition needs. They provide flexible financing options under the SBA 7(a) program, which is ideal for a wide range of business purposes. With a focus on personalized service, they assist clients through the entire loan process, from application to funding, ensuring a smooth experience. Their team understands the local market dynamics and offers guidance on eligibility, documentation, and repayment options. Whether you're a startup or an established business, they aim to provide solutions that align with your financial goals. The bank's expertise extends to supporting various industries, with a strong emphasis on customer satisfaction and community development. They are committed to helping small businesses thrive by leveraging SBA programs to access competitive rates and favorable terms. Located at 46 W Brundage St in Sheridan, they are accessible to local entrepreneurs and businesses across the region. Their SBA program history includes successful approvals under the 7(a) loan program, with approval amounts reaching up to $150,000. Their team is dedicated to fostering business growth and economic development within their community.
Common questions about First Federal Bank & Trust
What is this place and what can I find here?
This is a bank that offers SBA loan programs designed to help small businesses access financing for growth and development. You can find information on loan options, application processes, and support services tailored to your business needs. They focus on providing personalized assistance to ensure your business secures the funding it requires.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also welcome during business hours. Calling ahead can help streamline your visit and prepare necessary documentation.
What are the hours of operation?
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It's advisable to call ahead to confirm hours or schedule an appointment.
Is there a fee to use this?
There are no fees for initial consultations, but loan processing and application fees may apply depending on the specific financing arrangement. Details are provided during the application process.
Who is this open to — anyone, or only residents/members?
This bank primarily serves residents and businesses within the Sheridan area and surrounding regions. Eligibility for SBA loans depends on meeting specific criteria and business qualifications.
What minimum personal credit score does this bank look for in a guarantor?
Typically, a minimum personal credit score of 640 is preferred, but final decisions depend on overall creditworthiness and financial standing.
How long does the traditional underwriting process take from start to close?
The underwriting process generally takes between 30 to 60 days, depending on the completeness of documentation and loan complexity.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and First Federal Bank & Trust typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call First Federal Bank & Trust to confirm current weekend availability before you go.
How do I get there and where do I park?
First Federal Bank & Trust is located at the address listed on this page — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for First Federal Bank & Trust, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First Federal Bank & Trust itself, which runs its own lending under its own ownership. If you work at First Federal Bank & Trust, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for First Federal Bank & Trust — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with First Federal Bank & Trust before applying. If you represent First Federal Bank & Trust, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach First Federal Bank & Trust by phone at (307) 674-0464 or online at efirstfederal.bank — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with First Federal Bank & Trust before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, First Federal Bank & Trust can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask First Federal Bank & Trust directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether First Federal Bank & Trust participates in SBA Express depends on its specific SBA lending authority. Contact First Federal Bank & Trust and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. First Federal Bank & Trust can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. First Federal Bank & Trust's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First Federal Bank & Trust directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask First Federal Bank & Trust what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask First Federal Bank & Trust to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with First Federal Bank & Trust to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. First Federal Bank & Trust weighs this case by case under its own policy, so be upfront about your history and ask First Federal Bank & Trust how it evaluates prior bankruptcies.