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Owen County State Bank

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Description

Offering comprehensive SBA lending services, Owen County State Bank specializes in providing financial solutions tailored to small and medium-sized businesses. With a focus on supporting local entrepreneurs, the bank offers a range of loan programs including SBA 7(a) loans, which are ideal for business expansion, equipment purchase, or working capital needs. The bank’s experienced team guides clients through the application process, ensuring a smooth experience from start to finish. Their lending capacity includes approval amounts up to $1,400,000, making them a strong partner for growing businesses. Located in Spencer, Indiana, the bank emphasizes personalized service and community investment, helping local businesses thrive with flexible financing options. Whether you’re seeking funding for a startup or an established enterprise, Owen County State Bank is committed to facilitating your business goals with tailored SBA loan programs and expert support.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
36
Question 1
What is this place and what can I find here?
Answer 1
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.
Question 2
Do I need an appointment or can I walk in?
Answer 2
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.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 8:30 AM to 4:30 PM, Monday through Friday. It"s best to call ahead to confirm hours or schedule an appointment.
Question 4
Is there a fee to use this?
Answer 4
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.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and businesses in Spencer, Indiana, but may consider applications from qualified out-of-area borrowers for SBA loans.
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 typically preferred, though approval depends on the overall financial profile and business strength.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes 30 to 60 days, depending on the completeness of your application and the complexity of your financial situation.
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