MidSouth Bank
MidSouth Bank is an active SBA lender in Alabama, a bank offering SBA-guaranteed small-business loans. Currently rated 4.8 stars across 12 Google reviews.
About MidSouth Bank
MidSouth Bank offers comprehensive SBA lending services tailored to small businesses seeking financing solutions. With a focus on supporting local entrepreneurs, the bank provides SBA 7(a) loans that help fund various business needs, from working capital to equipment purchases. Their experienced team guides clients through the application process, ensuring clarity and efficiency. Located at 2526 W Main St in Dothan, AL, they serve a broad range of industries, emphasizing personalized service and flexible lending options. Whether you're starting a new venture or expanding an existing business, MidSouth Bank is committed to helping you achieve your goals with competitive rates and dedicated support.
Serves SBA borrowers in 2 states
MidSouth Bank has funded SBA loans for businesses in these states, by borrower location. Tap a state to see every lender serving it.
Industries MidSouth Bank finances
Business types MidSouth Bank actively lends to, from its SBA loan history. Tap one to see every lender serving it.
Common questions about MidSouth Bank
What is this place and what can I find here?
This is a financial institution offering SBA loan programs and small business financing solutions. You can find assistance with SBA 7(a) loans, guidance on business funding options, and support for entrepreneurs looking to grow or start their business.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours.
What are the hours of operation?
MidSouth Bank's Dothan main office lobby operates Monday through Thursday from 9:00 AM to 4:00 PM and Friday from 9:00 AM to 5:00 PM; the drive-thru is open Monday through Friday from 8:30 AM to 5:00 PM. Please confirm current hours with the bank before visiting.
Is there a fee to use this?
There are no fees to access basic consultation services, but loan processing and application fees may apply depending on the financing options chosen.
Who is this open to — anyone, or only residents/members?
This bank primarily serves small business clients within the region, but eligibility for loans depends on qualification criteria regardless of residency.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 640 is generally preferred, though higher scores improve approval chances.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and MidSouth Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call MidSouth Bank to confirm current weekend availability before you go.
How do I get there and where do I park?
MidSouth Bank is located in Alabama — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for MidSouth Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by MidSouth Bank itself, which runs its own lending under its own ownership. If you work at MidSouth Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for MidSouth Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with MidSouth Bank before applying. If you represent MidSouth Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach MidSouth Bank by phone at (334) 702-7774 or online at bankmidsouth.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with MidSouth Bank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Based on its approved SBA loans, MidSouth Bank most often finances businesses in restaurants & food service and medical practices & clinics. This reflects MidSouth Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with MidSouth Bank which sectors it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether MidSouth Bank participates in SBA Express depends on its specific SBA lending authority. Contact MidSouth Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. MidSouth Bank can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. MidSouth Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask MidSouth Bank directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask MidSouth Bank what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask MidSouth Bank to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with MidSouth Bank to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. MidSouth Bank weighs this case by case under its own policy, so be upfront about your history and ask MidSouth Bank how it evaluates prior bankruptcies.
