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First Southwest Bank

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Description

First Southwest Bank offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, the bank provides SBA 7(a) loans that help entrepreneurs access capital for a variety of purposes, including working capital, equipment purchases, and real estate acquisitions. Their experienced lending team guides clients through the application process, ensuring a smooth experience from initial inquiry to funding. The bank supports loans up to $146,000, making it a viable option for businesses looking for flexible financing solutions. Located in Durango, Colorado, they serve local businesses while also supporting regional economic development. Whether you’re a startup or an established enterprise, First Southwest Bank is committed to helping you achieve your business goals through tailored SBA loan programs.

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Q&A

Lender Type
Commercial Bank
Google Rating
4
Google Review Count
37
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loan programs to help small and medium-sized businesses access capital for growth, expansion, or operational needs. You can find personalized lending services, expert guidance, and flexible financing options tailored to your business goals.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated assistance, but walk-in visits are also accepted during business hours. Calling ahead can help you prepare for a smoother experience.
Question 3
What are the hours of operation?
Answer 3
The branch operates from Monday to Friday, 9:00 AM to 5:00 PM. It is advisable to call ahead for specific appointment times or to confirm hours during holidays.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations or inquiries. Loan fees, such as guarantee and closing costs, are disclosed during the application process and vary based on the loan specifics.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves local businesses in the Durango region, but they also support regional clients seeking SBA financing. Business owners must meet eligibility requirements to qualify.
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 typically required, but approval depends on the overall financial profile and collateral availability.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 30 to 60 days, depending on the complexity of the application and completeness of submitted documentation.
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