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OakStar Bank

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses with various loan programs. Whether you’re looking to start a new venture, expand an existing business, or require working capital, they provide tailored solutions to meet your needs. Their expertise includes SBA 7(a) loans, which are ideal for a wide range of business purposes, including equipment purchases, real estate, and working capital. With a focus on personalized service, they work closely with clients to navigate the application process and secure funding efficiently. Located conveniently in Springfield, Missouri, they serve local entrepreneurs and small business owners, helping them achieve growth and stability through accessible financing options. Their team understands the unique challenges faced by small businesses and strives to provide flexible, competitive loan terms. Whether you’re a startup or an established company, they aim to foster economic development and support business success in the region.

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Lender Type

Commercial Bank

Google Rating

4.4

Google Review Count

115

Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution offering SBA loan programs and small business financing solutions. You can find personalized support, loan options, and guidance tailored to your business needs.

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 officer, but walk-ins may be accommodated depending on availability.

Question 3

What are the hours of operation?

Answer 3

Typically, they operate Monday through Friday from 9 am to 5 pm, but it"s best to contact the branch directly for specific hours.

Question 4

Is there a fee to use this?

Answer 4

There are standard fees associated with SBA loans, including guarantee fees and closing costs, which vary depending on the loan size and terms.

Question 5

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

Answer 5

This lender primarily serves small business owners and entrepreneurs in the Springfield region, but eligibility depends on meeting loan requirements.

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 generally preferred, 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 typically takes 30 to 60 days, depending on the complexity of the application and completeness of documentation.

OakStar Bank

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