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First Option Bank

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Description

First Option Bank offers comprehensive SBA lending services tailored to small businesses seeking financial growth and stability. With a focus on supporting local entrepreneurs, the bank provides various loan options including the SBA 7(a) program, which is ideal for working capital, equipment purchases, and business expansion. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. Located in Osawatomie, Kansas, the bank is committed to fostering economic development within the community and beyond. They understand the unique needs of small businesses and provide personalized solutions to help them succeed. Whether you’re a startup or an established enterprise, First Option Bank offers flexible lending options to meet your specific needs. Their knowledgeable staff is dedicated to helping clients navigate the complexities of SBA loans, making it easier to access the capital necessary for growth. The bank also supports businesses in various industries, emphasizing their commitment to regional economic development and small business success.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.7
Google Review Count
40
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA loan programs and personalized financial services tailored to small businesses and entrepreneurs in Kansas.
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.
Question 3
What are the hours of operation?
Answer 3
The bank is open Monday through Friday from 9:00 AM to 5:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for visiting the bank; however, loan processing and service fees may apply depending on the product.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small businesses within the Kansas region, but eligibility varies by service.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a minimum personal credit score of 640 is required, though higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 30 to 45 days, depending on the loan complexity and completeness of documentation.
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