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First Fidelity Bank

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Description

First Fidelity Bank offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support for growth, expansion, or operational needs. With a focus on SBA programs, they facilitate access to capital through various loan options, including the popular 7(a) program, which supports a wide range of business purposes such as working capital, equipment, and real estate. Their experienced team provides personalized guidance throughout the loan process, ensuring clients understand their options and requirements. Located at 745 Main St in Burke, South Dakota, the bank is well-positioned to serve local entrepreneurs and small business owners. They have a proven track record of approving loans up to $700,000, demonstrating their capacity to handle substantial financing needs. The bank emphasizes quick turnaround times and flexible terms, making it a reliable partner for small business financing. Their commitment to supporting local economic development is reflected in their active participation in SBA programs, helping businesses access the capital they need to thrive in competitive markets. Whether you’re starting a new venture or expanding an existing business, First Fidelity Bank provides the resources and expertise to help you succeed.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
3
Question 1
What is this place and what can I find here?
Answer 1
This is a bank that offers SBA loan programs designed to help small businesses access capital for various needs. You can find personalized service, loan options up to $700,000, and expert guidance through the application process.
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 officer, but walk-in consultations may also be available during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank is open from 9 am to 5 pm, Monday through Friday. It"s best to call ahead to confirm availability for specific services.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit or inquire; however, loan processing and application fees may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners in South Dakota, but eligibility for SBA loans is based on business criteria, not residency alone.
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 required for loan approval.
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 your application and documentation.
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