Freedom Bank Inc
Freedom Bank Inc is an active SBA lender in West Virginia, a bank offering SBA-guaranteed small-business loans. Currently rated 4.7 stars across 12 Google reviews.
About Freedom Bank Inc
Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses through various loan programs. With a focus on the 7A loan program, it provides funding options for business expansion, working capital, and equipment purchases. The bank is committed to helping entrepreneurs succeed by offering personalized service and flexible financing solutions tailored to each business's needs. Located in Philippi, West Virginia, it serves the local community and beyond, ensuring accessible and reliable financial support for small business growth. The bank's experienced team understands the complexities of SBA loans and guides clients through every step of the application process, aiming to make funding attainable for businesses at different stages of development. Whether you're starting a new venture or expanding an existing one, this bank offers the expertise and resources to help you achieve your goals.
Common questions about Freedom Bank Inc
What is this place and what can I find here?
This is a local bank offering SBA loans and small business financing solutions. You can find support for business growth, expansion, and working capital needs tailored to small enterprises.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated time with a lender, but walk-ins are also welcome during business hours.
What are the hours of operation?
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Is there a fee to use this?
Fees are associated with loan processing and SBA application, but there is no fee to simply visit or inquire.
Who is this open to — anyone, or only residents/members?
This bank primarily serves residents and small businesses within the region, but eligibility can vary based on loan programs and qualifications.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 640 is generally required for guarantors.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 60 days, depending on the completeness of documentation and loan complexity.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Freedom Bank Inc 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 Freedom Bank Inc to confirm current weekend availability before you go.
How do I get there and where do I park?
Freedom Bank Inc is located in West Virginia — 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.
Who owns or operates this listing?
This page is an independent directory listing for Freedom Bank Inc, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Freedom Bank Inc itself, which runs its own lending under its own ownership. If you work at Freedom Bank Inc, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Freedom Bank Inc — 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 Freedom Bank Inc before applying. If you represent Freedom Bank Inc, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Freedom Bank Inc by phone at (304) 457-3000 or online at freedombankwv.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 Freedom Bank Inc before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Freedom Bank Inc 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 Freedom Bank Inc directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Freedom Bank Inc participates in SBA Express depends on its specific SBA lending authority. Contact Freedom Bank Inc and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
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. Freedom Bank Inc can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
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. Freedom Bank Inc's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Freedom Bank Inc directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
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 Freedom Bank Inc what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
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 Freedom Bank Inc to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
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 Freedom Bank Inc to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
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. Freedom Bank Inc weighs this case by case under its own policy, so be upfront about your history and ask Freedom Bank Inc how it evaluates prior bankruptcies.
