Go Back
Report Abuse

Lafayette Federal Credit Union

photo-1312.jpg
photo-1312.jpg

Description

Offering comprehensive financial services tailored for small businesses and individuals, this lender specializes in SBA loans, including the popular 7(a) program. They provide flexible financing options to support business growth, equipment purchases, and working capital needs. With a focus on personalized service, they assist clients throughout the loan process, from application to approval, ensuring a smooth experience. Their expertise extends to supporting startups and established businesses alike, with a commitment to fostering economic development in the Rockville area. The institution also offers various banking products, including checking and savings accounts, to meet diverse client needs. Their team of experienced lenders works closely with borrowers to identify the best financing solutions, leveraging their strong local presence and industry knowledge. Whether you’re seeking a small business loan or need assistance with financial planning, they are dedicated to helping you succeed. The bank’s community-oriented approach emphasizes building lasting relationships and supporting local economic growth. They are well-versed in SBA lending nuances, ensuring clients receive the guidance necessary to navigate the application process effectively.

Location

There are no reviews yet.

Q&A

Lender Type
Commercial Bank
Google Rating
4.5
Google Review Count
126
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loans, including the 7(a) program, to support small business growth. You can find personalized lending solutions, expert guidance, and various banking services tailored to your needs.
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 lender, but walk-ins are also welcome during business hours. Calling ahead can help streamline your visit and prepare necessary documentation.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM. Some services may be available by appointment outside regular hours; it"s best to contact the branch directly for specific inquiries.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting with the bank. Loan applications and services may involve fees or interest charges, which will be clearly disclosed during the process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This institution primarily serves members of the community and small business owners in the region. Membership requirements may apply for certain banking products, but SBA loan services are generally accessible to qualified applicants.
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 required, though higher scores improve approval chances. The bank considers overall creditworthiness and financial stability during underwriting.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation. Early preparation can help expedite approval.
Scroll to Top