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Old Second National Bank

Offering comprehensive SBA lending services, this commercial bank specializes in providing small business financing solutions tailored to meet diverse needs. Whether you’re seeking funding for expansion, equipment, or working capital, their team is equipped to guide you through the application process and secure the best possible terms. With a focus on supporting local businesses, they offer personalized service and expert advice to help you achieve your growth objectives. Their SBA program experience includes the 7A loan program, which is ideal for a wide range of business purposes. The bank’s approval amounts can go up to $1,835,000, making it suitable for both small and larger projects. They serve clients primarily within the regional geography, emphasizing strong industry knowledge in sectors like manufacturing, retail, and services. Their commitment to small business success is reflected in their flexible loan options and dedicated support staff, ensuring a smooth financing experience from start to finish.

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Lender Type

Commercial Bank

Google Rating

4.8

Google Review Count

1453

Question 1

What is this place and what can I find here?

Answer 1

This is a commercial bank that offers SBA loan programs, including 7A financing, to help small businesses grow and succeed. You can find personalized lending solutions, expert advice, and support throughout the application process.

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-in consultations may be available depending on the branch"s schedule.

Question 3

What are the hours of operation?

Answer 3

Typically, the bank operates from 9:00 AM to 5:00 PM, Monday through Friday, but hours may vary by location, so it"s best to contact ahead of your visit.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to consult with the bank; however, loan processing and guarantee fees may apply depending on the financing arrangement.

Question 5

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

Answer 5

This bank primarily serves local residents and small business owners within its regional area, but eligibility depends on meeting loan requirements.

Question 6

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

Answer 6

While specific scores vary, a minimum personal credit score of around 650 is generally preferred for SBA loan qualification.

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 application and completeness of documentation.

Old Second National Bank

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