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First State Community Bank

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Description

First State Community 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 can help fund various business purposes, including working capital, equipment purchase, and real estate acquisition. Located in Farmington, Missouri, the bank leverages its local expertise to guide clients through the loan process, ensuring a smooth experience from application to approval. The institution supports businesses across diverse industries, with a particular strength in sectors such as manufacturing and retail. Their SBA programs are designed to facilitate access to capital for businesses that may not qualify through traditional lending channels, offering flexible terms and competitive rates. Whether you’re a startup or an established enterprise, First State Community Bank aims to be a reliable partner in your growth journey, providing the financial tools and advice needed to succeed in today’s competitive market.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.8
Google Review Count
23
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA loan programs, personal banking, and business financial services designed to support local businesses and entrepreneurs in the region.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to discuss your specific needs, but walk-in consultations are also available during business hours.
Question 3
What are the hours of operation?
Answer 3
The branch operates from 9:00 AM to 5:00 PM, Monday through Friday, with additional hours by appointment on Saturdays.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, loan processing and closing may involve standard fees which will be disclosed upfront.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
The bank primarily serves local residents and businesses in the Farmington area but offers services to qualified applicants within its lending regions.
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, though higher scores improve the likelihood of approval.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 45 days, depending on the complexity of the application and completeness of documentation.
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