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LAF CU

Offering comprehensive SBA financing options, this commercial bank specializes in supporting small businesses with tailored loan solutions. Whether you’re seeking funding for expansion, equipment, or working capital, they provide a range of programs to meet diverse needs. Their expertise includes SBA 7(a) loans, which are ideal for various business purposes, and they have a history of approving amounts up to $200,000 for qualifying borrowers. Located in Lansing, Michigan, they serve local entrepreneurs and small business owners, helping them access the capital necessary for growth and success. Their team is dedicated to guiding clients through the application process and ensuring they understand the terms and benefits of SBA-backed financing. With a focus on personalized service, they aim to facilitate smooth transactions and foster long-term business relationships. This lender’s commitment to supporting small businesses makes them a reliable partner in achieving financial goals, offering flexible lending options and expert advice tailored to your industry and business stage.

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Lender Type

Commercial Bank

Google Rating

3.5

Google Review Count

126

Question 1

What is this place and what can I find here?

Answer 1

This is a commercial bank that offers SBA-backed loans and financial services tailored for small businesses. You can find assistance with funding options like SBA 7(a) loans, guidance throughout the application process, and personalized support to help grow your business.

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 loan specialist, though walk-ins may be accommodated based on availability. Calling ahead can help streamline your visit and prepare necessary documentation.

Question 3

What are the hours of operation?

Answer 3

The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s advisable to contact the branch directly for specific hours or to arrange an appointment outside regular hours.

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 guarantee fees, closing costs, or service charges, which are disclosed during the application process.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This bank primarily serves small business owners and residents within the Lansing area and surrounding regions. Eligibility for specific programs may depend on local residency or business location.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of around 640 is generally preferred, but qualifications can vary based on the loan type and overall financial profile.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of your application and the complexity of your financial situation.

LAF CU

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