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MY CU

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Description

Offering comprehensive banking services tailored for small businesses and entrepreneurs, MY CU provides a range of financial products including SBA loans, business checking, and savings accounts. With a focus on supporting local businesses, they assist clients in securing funding for growth, equipment, and operational needs. Their experienced team guides borrowers through the SBA 7(a) loan process, helping them access capital with favorable terms. Located in Bloomington, MN, MY CU is committed to fostering economic development in the community by providing personalized financial solutions. Their SBA program support includes 7(a) loans, which are ideal for working capital, expansion, and equipment financing. The bank emphasizes quick turnaround times and flexible lending options to meet the diverse needs of small business owners. Whether you’re starting a new venture or expanding an existing business, MY CU offers the expertise and resources necessary to succeed.

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Q&A

Lender Type
Commercial Bank
Google Rating
2.6
Google Review Count
90
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank offering SBA loan programs, business banking services, and financial solutions tailored for small businesses in Bloomington, MN. You can find support for funding, savings, and growth initiatives.
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 are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from Monday to Friday, 9 AM to 5 PM, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for basic banking services; certain loan processing or account maintenance fees may apply.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners in the Bloomington area, with membership required for certain accounts.
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 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 approximately 2 to 4 weeks, depending on the loan complexity and documentation provided.
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