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McKenzie Banking Company, A Division of Foundation Bank

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Description

Offering comprehensive SBA lending services, this commercial bank specializes in supporting small businesses with tailored financing options. With a focus on SBA 7(a) loans, they assist entrepreneurs in securing funding for various needs including working capital, equipment, and expansion projects. Their experienced team provides guidance throughout the application process, ensuring clients understand their options and requirements. Located in McKenzie, TN, the bank leverages its local presence to foster strong relationships with the community and local businesses. They support a wide range of industries, with particular strength in sectors like services and retail. The bank’s commitment to small business growth is evident in their flexible loan programs and personalized service. Whether you’re a startup or an established company, they aim to simplify the borrowing process and help you achieve your business goals.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.4
Google Review Count
157
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs to small businesses, providing financing solutions tailored to various business needs. You can find assistance with SBA 7(a) loans, guidance on application processes, and personalized financial support to help grow your business.
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 loan officer, but walk-ins may also be accommodated depending on availability. Calling ahead can help you prepare and streamline your visit.
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 best to confirm hours directly with the branch or schedule an appointment in advance.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply inquiring or applying for SBA loans, but standard loan fees and closing costs may apply depending on the loan terms. The bank provides transparent fee information during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small business owners in the McKenzie area. Business eligibility depends on meeting SBA and bank-specific criteria, but they welcome applications from qualifying small businesses within their service region.
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 preferred, though higher scores can improve the chances of approval and better loan terms.
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 completeness of your application and the complexity of your financial situation.
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