Owen County State Bank

This is a community-focused bank offering SBA loan programs, including 7(a) loans, to support small and medium-sized businesses in Spencer, Indiana. You can find personalized financial services tailored to your business needs, with expert guidance throughout the lending process.

It's recommended to schedule an appointment to meet with a loan officer, but walk-ins are also welcome during business hours. Calling ahead ensures personalized service and a smoother application process.

Owen County State Bank operates Monday through Friday, 8:00 AM to 5:00 PM, and Saturday, 9:00 AM to 12:00 PM. Please confirm current hours directly with the bank.

There are no fees to visit the bank, but loan applications and processing may involve fees such as application fees, guarantee fees, and closing costs, depending on the loan terms.

This bank primarily serves residents and businesses in Spencer, Indiana, but may consider applications from qualified out-of-area borrowers for SBA loans.

A minimum personal credit score of around 640 is typically preferred, though approval depends on the overall financial profile and business strength.

The underwriting process generally takes 30 to 60 days, depending on the completeness of your application and the complexity of your financial situation.

Yes, Owen County State Bank is open on Saturdays from 9:00 AM to 12:00 PM. Confirm with the bank for current weekend hours.

Owen County State Bank is located in Indiana — 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 Owen County State Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Owen County State Bank itself, which runs its own lending under its own ownership. If you work at Owen County State Bank, you can claim this listing from this page to manage it.

The core details for Owen County State 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 Owen County State Bank before applying. If you represent Owen County State Bank, claim this listing to keep its information up to date.

You can reach Owen County State Bank at (812) 829-4811 or through their web contact form at ocsbank.com/About/Contact. For SBA loans, ask for their business lending department.

Based on its approved SBA loans, Owen County State Bank most often finances businesses in restaurants & food service. This reflects Owen County State 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 Owen County State 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 Owen County State Bank participates in SBA Express depends on its specific SBA lending authority. Contact Owen County State 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. Owen County State Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Owen County State Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Owen County State Bank directly whether it considers start-up loans.

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