Old Second National Bank

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.

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.

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.

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

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

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

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.

Most banks keep weekday business hours and are closed on weekends, and Old Second National 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 Old Second National Bank to confirm current weekend availability before you go.

Old Second National Bank is located in Illinois — 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.

This page is an independent directory listing for Old Second National Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Old Second National Bank itself, which runs its own lending under its own ownership. If you work at Old Second National Bank, you can claim this listing from this page to manage it.

The core details for Old Second National 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 Old Second National Bank before applying. If you represent Old Second National Bank, claim this listing to keep its information up to date.

You can reach Old Second National Bank by phone at (877) 866-0202 or online at oldsecond.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 Old Second National Bank before relying on them.

Based on its approved SBA loans, Old Second National Bank most often finances businesses in manufacturing, construction & contractors, general retail, transportation & trucking, medical practices & clinics, and restaurants & food service. This reflects Old Second National 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 Old Second National Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Old Second National Bank participates in SBA Express depends on its specific SBA lending authority. Contact Old Second National Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

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. Old Second National Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

Old Second National Bank serves start-up companies along with established corporations. Confirm specific eligibility criteria and requirements with the bank.

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 Old Second National Bank what down payment it expects for your specific commercial real estate purchase.

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 Old Second National Bank to spell out any prepayment penalties before you sign.

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 Old Second National Bank to confirm it qualifies and how to document it.

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. Old Second National Bank weighs this case by case under its own policy, so be upfront about your history and ask Old Second National Bank how it evaluates prior bankruptcies.