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First Iowa State Bank

First Iowa State Bank
First Iowa State Bank

Description

First Iowa State Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, equipment, or working capital. With a focus on personalized service, the bank provides SBA 7(a) loans, which are ideal for various business needs including expansion, purchase of inventory, or refinancing existing debt. The bank’s experienced team guides clients through the application process, ensuring clarity and support at every step. Their loan offerings are flexible, with approval amounts reaching up to $151,000, making them suitable for small to mid-sized enterprises. Located in Albia, Iowa, the bank emphasizes community banking with a strong understanding of local market dynamics. They support a broad range of industries, with particular strength in sectors like retail, manufacturing, and services. Whether you’re starting a new venture or expanding an existing one, First Iowa State Bank is committed to helping local businesses succeed through tailored SBA solutions and dedicated customer service.

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Q&A

Lender Type
Commercial Bank
Google Rating
3
Google Review Count
12
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA loan options and personalized financial services tailored to small business needs in Albia, Iowa. You can find support for business expansion, equipment financing, and working capital solutions. The bank"s team is dedicated to helping local entrepreneurs succeed with flexible lending options and expert guidance.
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-ins are also welcome during business hours. Calling ahead can help streamline your visit and prepare necessary documentation.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 8:30 AM to 4:30 PM, Monday through Friday. It"s best to contact the branch directly for specific hours or to schedule an appointment outside regular hours.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting with the bank. Loan application and processing fees may apply depending on the specific SBA loan product and terms.
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 Albia area. Business loans are available to qualified applicants within the community and surrounding regions.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is generally preferred, but the exact requirement may vary based on the loan size and applicant profile.
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 the application and documentation provided.
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