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KodaBank

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Description

KodaBank offers comprehensive SBA lending solutions tailored to small businesses seeking financial growth and stability. With a focus on supporting local entrepreneurs, this bank provides access to SBA 7(a) loans that can help fund various business needs, including working capital, equipment, and expansion projects. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. Located in Drayton, North Dakota, KodaBank is committed to serving the financial needs of its community with personalized service and competitive rates. Whether you’re a startup or an established business, they aim to facilitate your growth with flexible lending options and expert advice. Their SBA programs are designed to help small businesses access capital efficiently, fostering economic development in the region. With a record approval amount of up to $234,000, KodaBank is a reliable partner for your business financing needs, emphasizing local support and tailored financial solutions.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
3
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs and small business financing solutions to support regional entrepreneurs and business owners.
Question 2
Do I need an appointment or can I walk in?
Answer 2
You can walk in during business hours or schedule an appointment for personalized assistance with your SBA loan application.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 8:30 AM to 5:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are standard SBA application and closing fees, but no additional charges for consultation or initial inquiries.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners within the regional community, but others may inquire about services.
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 for SBA loan guarantors.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes 30 to 45 days, depending on the completeness of the application and documentation.
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