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Open Bank

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Description

Open Bank offers comprehensive SBA lending solutions tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on the 7A program, they provide flexible financing options that cater to a variety of industries and business sizes. Their experienced team guides clients through the application process, ensuring clarity and efficiency from start to finish. Located in Los Angeles, CA, the bank leverages its regional expertise to serve local entrepreneurs while also supporting nationwide business development. They are known for their personalized service and competitive loan terms, making them a trusted partner for small business owners looking to access SBA-backed funding.

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Q&A

Lender Type
Commercial Bank
Google Rating
3
Google Review Count
8
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank offering SBA loan programs and small business financing solutions. You can find assistance with business loans, guidance through the application process, and personalized support for your financial needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday, but hours may vary by location and appointment schedule.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting; however, loan processing and application fees may apply depending on the services used.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and entrepreneurs nationwide, regardless of residency, provided they meet lending criteria.
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 required, 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 between 30 to 60 days, depending on the complexity of the loan and completeness of the application.
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