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Peoples Bank of Commerce

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Description

Peoples Bank of Commerce offers comprehensive SBA lending solutions tailored to small and medium-sized businesses. With a focus on supporting local entrepreneurs, the bank provides access to various SBA programs, including the popular 7(a) loan program. Whether you’re seeking funding for expansion, equipment purchase, or working capital, this institution is equipped to assist. Their experienced team guides clients through the application process, ensuring clarity and efficiency. The bank’s commitment to community development is reflected in their personalized service and flexible financing options. They serve a diverse range of industries, emphasizing their strength in supporting regional economic growth. Clients benefit from competitive rates and a straightforward application process designed to meet the needs of small business owners. The bank’s strategic location in Medford allows it to cater effectively to local businesses while maintaining a broad regional reach. Their expertise in SBA lending makes them a reliable partner for business financing needs.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.5
Google Review Count
12
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank that provides SBA loan programs and financial services tailored to small and medium-sized businesses, helping them grow and succeed.
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 are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting; fees may apply for loan processing and closing costs.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and businesses in the Medford area, but they also support regional clients seeking SBA financing.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of approximately 640 is generally preferred for loan approval.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The process typically takes between 30 to 45 days, depending on the complexity of the loan and completeness of documentation.
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