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Laona State Bank

Laona State Bank
Laona State Bank

Description

Laona State Bank offers comprehensive SBA loan services tailored to meet the needs of small businesses in the Laona area. With a focus on supporting local entrepreneurs, the bank provides various financing options including SBA 7(a) loans, which are ideal for business expansion, working capital, and equipment purchases. Their experienced lending team guides clients through the application process, ensuring a smooth experience from start to finish. The bank’s commitment to the community and personalized service makes it a trusted partner for small business owners seeking reliable funding solutions. Whether you’re starting a new venture or expanding an existing business, Laona State Bank is dedicated to helping you achieve your financial goals with flexible terms and competitive rates. They also support microloans and other SBA programs, making them a versatile choice for diverse funding needs. Located conveniently at 5308 Beech St, the bank serves the local business community with a focus on fostering growth and economic development.

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Q&A

Lender Type
Commercial Bank
Google Rating
4
Google Review Count
4
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank that offers SBA loans, microloans, and other small business financing options. You can find personalized banking services designed to support small business growth and community development.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a lending specialist, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 8:30 AM to 4:30 PM, with special hours by appointment on Saturdays.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; loan fees and interest rates vary depending on the specific financing product.
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 Laona community and surrounding areas.
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 eligibility.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 45 days, depending on the complexity of the loan application.
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