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Northern CU

Northern CU offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, equipment, or operational needs. With a focus on personalized service, they assist clients through the SBA 7(a) loan program, providing flexible financing options to meet diverse business requirements. Their team is dedicated to guiding borrowers from application to approval, ensuring a smooth process. Located in Watertown, NY, they serve local entrepreneurs and small business owners, helping them access capital with competitive terms and personalized assistance. Whether you’re expanding your manufacturing operations or looking for working capital, Northern CU is equipped to support your business ambitions with tailored loan solutions.

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Lender Type

Commercial Bank

Google Rating

3.3

Google Review Count

Question 1

What is this place and what can I find here?

Answer 1

This is a local SBA lender offering small business loans, including SBA 7(a) programs, to help entrepreneurs access capital for growth and operational needs. You can find personalized support and guidance throughout the loan process to ensure your business gets the funding it needs.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It"s recommended to schedule an appointment to meet with a loan officer, but walk-in consultations may be available during business hours. Calling ahead ensures you receive dedicated time and preparation for your loan application.

Question 3

What are the hours of operation?

Answer 3

The bank operates Monday through Friday from 9:00 AM to 5:00 PM. It"s best to call ahead for specific appointment times or to confirm availability outside regular hours.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for initial consultations; however, loan processing fees and other charges may apply depending on the loan type and amount. These are typically disclosed upfront during the application process.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This lender primarily serves small businesses in the Watertown region, especially local entrepreneurs and members of the credit union. Business owners outside the area should contact the bank to confirm eligibility.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum credit score of approximately 650 is generally preferred, but other factors such as business performance and collateral are also considered.

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 complexity of the loan and completeness of the application.

Northern CU

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