First State Bank of Michigan

This is a bank that specializes in SBA loans, offering small businesses access to financing options like the 7(a) program. You can find personalized support for business expansion, equipment purchases, and working capital needs.

It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be accommodated during business hours.

The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with additional hours by appointment.

There are no fees for initial consultations; applicable loan fees and interest rates are discussed during the application process.

This service is primarily available to small business owners in the Decatur area and surrounding regions who meet the lending criteria.

A minimum personal credit score of around 640 is typically required, though higher scores improve approval chances.

The underwriting process generally takes between 30 to 45 days, depending on the completeness of the application and documentation provided.

Most banks keep weekday business hours and are closed on weekends, and First State Bank of Michigan typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call First State Bank of Michigan to confirm current weekend availability before you go.

First State Bank of Michigan is located in Michigan — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for First State Bank of Michigan, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First State Bank of Michigan itself, which runs its own lending under its own ownership. If you work at First State Bank of Michigan, you can claim this listing from this page to manage it.

The core details for First State Bank of Michigan — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with First State Bank of Michigan before applying. If you represent First State Bank of Michigan, claim this listing to keep its information up to date.

You can reach First State Bank of Michigan by phone at (269) 423-7014 or online at fsbdecatur.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with First State Bank of Michigan before relying on them.

Like most SBA lenders, First State Bank of Michigan can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask First State Bank of Michigan directly which industries it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether First State Bank of Michigan participates in SBA Express depends on its specific SBA lending authority. Contact First State Bank of Michigan and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. First State Bank of Michigan can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. First State Bank of Michigan's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First State Bank of Michigan directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask First State Bank of Michigan what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask First State Bank of Michigan to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with First State Bank of Michigan to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. First State Bank of Michigan weighs this case by case under its own policy, so be upfront about your history and ask First State Bank of Michigan how it evaluates prior bankruptcies.