Go Back
Report Abuse

Locus Bank Inc

Locus Bank Inc
Locus Bank Inc

Description

Locus Bank Inc offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and operational needs. With a focus on the 7(a) loan program, they provide flexible financing options that cater to a wide range of business purposes including working capital, equipment purchase, and real estate acquisition. Their experienced team works closely with clients to understand their unique needs and guide them through the application process, ensuring a smooth experience from start to finish. Located in Richmond, VA, they serve local businesses with personalized service and quick turnaround times. The bank’s commitment to supporting small businesses is reflected in their ability to approve loans up to $90,000, making them a reliable partner for entrepreneurs looking to expand or stabilize their operations. Whether you’re a startup or an established business, Locus Bank Inc is dedicated to helping you access the funds you need to succeed. They also support SBA 504 and Express programs, providing additional avenues for financing. Their knowledgeable staff is ready to assist with application preparation and eligibility assessments, ensuring you have the best chance at approval.

Location

There are no reviews yet.

Q&A

Lender Type
Commercial Bank
Google Rating
3
Google Review Count
2
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that specializes in SBA loans, providing small businesses with financing options like 7(a), 504, and Express loans to support growth and operational 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 assistance, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
Fees are associated with loan processing and vary based on the loan type and amount; consult with the bank for specifics.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners in the Richmond area seeking SBA financing solutions.
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 typically required for loan consideration.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process usually takes approximately 2 to 4 weeks, depending on the completeness of the application and documentation.
Scroll to Top