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MidCountry Bank

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Description

MidCountry Bank offers comprehensive SBA lending solutions tailored to small and medium-sized businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, the bank provides various loan programs including the SBA 7(a) loan, which is ideal for working capital, equipment purchases, and real estate acquisitions. Their team works closely with clients to understand their unique needs and craft financing options that align with their business goals. Located in Bloomington, Minnesota, the bank leverages its regional expertise to serve businesses across the state and beyond, ensuring accessible and flexible funding options. The bank’s SBA program history demonstrates a strong track record of supporting entrepreneurs with approvals up to $644,000, making it a reliable partner for business financing.

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Q&A

Lender Type
Commercial Bank
Google Rating
2
Google Review Count
8
Question 1
What is this place and what can I find here?
Answer 1
This is a trusted SBA lender offering small business financing options, including SBA 7(a) loans, with personalized service to help your business grow and succeed.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-in consultations may also be available during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 8:30 AM to 5:00 PM, with appointments available outside regular hours upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, loan origination and closing costs may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves businesses located in Minnesota and surrounding regions, with eligibility based on creditworthiness and business needs.
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, though higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process usually takes between 30 to 60 days, depending on the complexity of the loan and completeness of documentation.
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