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First State Bank of Middlebury

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Description

First State Bank of Middlebury offers comprehensive SBA lending services designed to support small businesses in securing essential financing. With a focus on small to medium-sized enterprises, the bank provides tailored loan options including the SBA 7(a) program, which is ideal for business expansion, working capital, and acquisition needs. Their experienced lending team guides clients through the application process, ensuring clarity and efficiency from start to finish. The bank’s commitment to local economic growth is reflected in its personalized service and flexible loan terms. Whether you’re a startup or an established business, they aim to facilitate your growth ambitions with competitive rates and supportive terms. The bank’s expertise in SBA lending makes it a reliable partner for businesses seeking reliable capital solutions. They also support various industries, with a particular strength in manufacturing and retail sectors, helping local businesses thrive and expand their operations. Located conveniently at 111 S Main St in Middlebury, IN, they serve the broader regional community with a focus on personalized financial solutions.

Location

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Q&A

Lender Type
Commercial Bank
Google Rating
3.6
Google Review Count
33
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank that offers SBA loan programs, including the 7(a), to help small businesses access capital for growth, expansion, and operational needs, with personalized service 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.
Question 3
What are the hours of operation?
Answer 3
The bank is typically open from 9:00 AM to 5:00 PM, Monday through Friday; please contact them directly for specific hours or after-hours appointments.
Question 4
Is there a fee to use this?
Answer 4
There are standard fees associated with SBA loans, including application and closing costs, which vary depending on the loan specifics.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners within the regional community, but eligibility depends on meeting SBA and credit requirements.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally required to qualify for SBA loans at this bank.
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 completeness of the application and loan specifics.
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