MI Bank
Description
MI Bank offers comprehensive SBA lending solutions tailored to meet the needs of small businesses seeking financing options. With a focus on supporting local entrepreneurs, the bank provides various loan programs including SBA 7(a), which is ideal for working capital, equipment purchases, and business expansion. Their experienced team guides clients through the application process, ensuring clarity and efficiency. The bank’s expertise in SBA lending helps businesses secure funding up to $2,205,000, making it a reliable partner for growth and development. Located in Bloomfield Township, MI, MI Bank is committed to fostering economic growth within the community by providing accessible and flexible financing options.
Location
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Q&A
Lender Type
Commercial Bank
Google Rating
5
Google Review Count
4
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that provides SBA loan programs and small business financing options to support local entrepreneurs and 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 dedicated service, 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
There are no fees for accessing basic information, but loan processing may involve origination and closing costs.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners in the region, but SBA programs are accessible nationwide.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a minimum personal credit score of 620 is preferred.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 30 to 45 days, depending on the complexity of the application.