Magnifi Financial CU
Description
Magnifi Financial CU offers comprehensive SBA loan options tailored to small businesses seeking financial support for growth, equipment, or operational needs. With a focus on personalized service, this lender provides flexible financing solutions backed by SBA programs, including the 7(a) loan program. They are committed to helping entrepreneurs access the capital they need to succeed, whether starting a new venture or expanding an existing one.
Location
Review
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Q&A
Lender Type
Commercial Bank
Google Rating
4.3
Google Review Count
20
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loan programs designed to help small businesses access capital for various needs. You can find information on loan options, application processes, and eligibility criteria to support your business growth.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure personalized service, but walk-in consultations may be available during business hours. Contact the branch in advance for specific guidance.
Question 3
What are the hours of operation?
Answer 3
The branch typically operates from 9 AM to 5 PM, Monday through Friday. Hours may vary, so it"s best to confirm by calling ahead.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for accessing basic information; however, loan application fees and closing costs may apply depending on the specific financing arrangement.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This institution primarily serves members of the credit union, but SBA loan programs are available to qualified small businesses nationwide regardless of membership status.
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 generally preferred, but the exact requirement may vary based on the loan and borrower profile.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.