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First National Bank of Pana

First National Bank of Pana offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking funding solutions. With a focus on supporting local entrepreneurs, the bank provides various loan programs including the SBA 7(a) and 504 options, designed to help businesses grow, purchase equipment, or expand operations. Their experienced lending team guides clients through the application process, ensuring clarity and support at every step. Located at 306 S Locust in Pana, Illinois, the bank is committed to fostering economic development within the community. They serve a diverse range of industries, with particular strength in healthcare and service sectors. Whether you’re starting a new venture or expanding an existing business, First National Bank of Pana offers flexible financing options to meet your needs. The bank’s approach emphasizes personalized service, competitive rates, and quick turnaround times to help businesses succeed. Their local expertise and dedicated support make them a reliable partner for SBA financing in the region.

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Lender Type

Commercial Bank

Google Rating

3.7

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Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution offering SBA loan programs and small business financing solutions, including support for business growth and expansion.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to ensure dedicated service, but walk-ins may be accommodated depending on availability.

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 special hours on some days; it"s best to call ahead for confirmation.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for initial consultations; however, loan processing and closing fees may apply depending on the financing arrangement.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This bank primarily serves local residents and businesses within the region, though some services may be available to non-residents with qualifying criteria.

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 preferred, but other factors such as business cash flow and collateral are also considered.

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.

First National Bank of Pana

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