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One American Bank

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One American Bank
One American Bank

Description

One American Bank offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support. With a focus on the SBA 7(a) program, the bank provides flexible financing options for various business purposes, including working capital, equipment purchases, and real estate acquisitions. Their experienced team guides clients through the application process, ensuring clarity and efficiency. Located in Centerville, South Dakota, the bank is committed to supporting local entrepreneurs and fostering economic growth in the region. They have a proven track record of approving loans up to $349,200, demonstrating their capacity to handle diverse funding requests. Whether you’re a startup or an established business, One American Bank aims to deliver personalized service and competitive terms to help your business succeed.

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Q&A

Lender Type
Commercial Bank
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender providing small business loans, primarily through the SBA 7(a) program, to support regional entrepreneurs with financing options and personalized service.
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
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday, with appointments available outside regular hours upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit or inquire; however, loan processing and application fees may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This service is open to small business owners in the region seeking SBA financing, regardless of membership status.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is typically required for SBA loan applicants, 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 generally takes between 30 to 45 days, depending on the completeness of the application and documentation provided.
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