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First Federal Bank

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Description

First Federal Bank offers comprehensive SBA lending solutions tailored to small businesses seeking financial growth and stability. With a focus on supporting local entrepreneurs, the bank provides various loan programs including the SBA 7(a) loan, which is ideal for working capital, equipment, and real estate purchases. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. The bank’s expertise in SBA lending helps businesses secure funding amounts up to $1,313,400, making it a reliable partner for small business financing needs. Located conveniently in Lake City, FL, they serve a diverse range of industries, emphasizing personalized service and flexible lending options to meet unique business requirements. Whether you’re expanding operations or managing cash flow, First Federal Bank is committed to helping small businesses succeed with tailored financial solutions.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.9
Google Review Count
144
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank that offers SBA loan programs and financial services to support small business growth and development in the Lake City area.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to meet with a loan officer, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic banking services; fees may apply for specific loan processing or advisory services.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small business owners in the Lake City area, but other clients may also be eligible.
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 required for SBA loan applicants.
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 application and completeness of documentation.
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