Friend Bank
Friend Bank is an active SBA lender in Alabama, a bank offering SBA-guaranteed small-business loans. Currently rated 4.8 stars across 65 Google reviews.
About Friend Bank
Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses with various loan options. They provide tailored financing solutions to help startups and established companies grow and succeed, including SBA 7(a) loans, which are ideal for working capital, equipment, or expansion needs. The bank has a strong record of approving loans up to $157,900, demonstrating their commitment to supporting local businesses. Their experienced team guides borrowers through the application process, ensuring clarity and efficiency. Located in SLOCOMB, AL, they serve a broad range of industries, with particular strength in manufacturing sectors. Whether you're seeking funding for a new venture or expanding an existing operation, this bank offers flexible terms and personalized service to meet your business goals.
Industries Friend Bank finances
Business types Friend Bank actively lends to, from its SBA loan history. Tap one to see every lender serving it.
Common questions about Friend Bank
What is this place and what can I find here?
This is a bank that offers SBA loan programs and financial services tailored to small businesses, helping them secure funding for growth and operations.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated service, but walk-ins are also welcome during business hours.
What are the hours of operation?
Friend Bank operates Monday through Friday from 8:30 AM to 4:00 PM, with extended Friday hours until 5:00 PM. Contact Friend Bank directly for any holiday closures or appointment-based services.
Is there a fee to use this?
There are fees associated with loan processing and service charges, which vary depending on the loan type and amount.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local residents and small business owners within the region, but eligibility depends on meeting loan criteria.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 620 is generally required to qualify for SBA loans.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 45 days, depending on the completeness of documentation and loan complexity.
Is this open on weekends?
Friend Bank is closed on weekends. Saturday and Sunday hours are not available; all business services are available Monday through Friday only.
How do I get there and where do I park?
Friend Bank is located in Alabama — 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 Friend Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Friend Bank itself, which runs its own lending under its own ownership. If you work at Friend Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Friend Bank — 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 Friend Bank before applying. If you represent Friend Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Friend Bank by phone at (334) 886-2367 or online at friendbank.net — 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 Friend Bank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Based on its approved SBA loans, Friend Bank most often finances businesses in general retail, restaurants & food service, and wholesale & distribution. This reflects Friend Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Friend Bank which sectors 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 Friend Bank participates in SBA Express depends on its specific SBA lending authority. Contact Friend Bank 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. Friend Bank 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. Friend Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Friend Bank 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 Friend Bank 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 Friend Bank 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 Friend Bank 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. Friend Bank weighs this case by case under its own policy, so be upfront about your history and ask Friend Bank how it evaluates prior bankruptcies.
