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Frankenmuth Credit Union

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Description

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses through various loan programs. With a focus on the 7(a) loan program, it provides flexible financing options for business expansion, working capital, and equipment purchases. The bank is committed to helping entrepreneurs access the capital they need to grow and succeed. Located in Frankenmuth, MI, it serves local and regional clients with personalized service and expert guidance. The institution has a strong track record of approving loans up to $60,000, making it an ideal choice for small-scale funding needs. Its team understands the unique challenges faced by small business owners and offers tailored financial solutions to meet those needs. Whether you’re starting a new venture or expanding an existing business, this lender provides the support necessary to achieve your goals. With a focus on community development and economic growth, it strives to foster long-term relationships with its clients and contribute to local prosperity.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.2
Google Review Count
254
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender offering small business loans, primarily through the 7(a) program, to help entrepreneurs access capital for growth and development. You can find personalized financial guidance and support tailored to your business needs. The institution focuses on community development and fostering long-term relationships with clients.
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 lending specialist, though walk-ins may be accommodated depending on availability. Contact the branch in advance for the best experience and to discuss your financing needs.
Question 3
What are the hours of operation?
Answer 3
The branch operates during regular business hours from Monday to Friday, 9:00 AM to 5:00 PM. It"s advisable to call ahead to confirm hours or schedule an appointment outside of standard times.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting with the bank; however, loan applications and processing may involve fees such as application, origination, or closing costs. These fees are disclosed upfront during the loan process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves local residents and small business owners within the region, though some services may be available to non-residents depending on eligibility criteria. Membership or residency may be required for certain banking products.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 650 is typically preferred, but the exact requirement can vary based on the loan type and applicant profile. Strong credit history improves the chances of approval.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 2 to 4 weeks, depending on the completeness of your application and the complexity of the loan. Prompt submission of required documents can help expedite the process.
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