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Providence Bank & Trust

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Description

Providence Bank & Trust offers comprehensive SBA lending solutions tailored to small and medium-sized businesses seeking financial support for growth, equipment, or working capital. With a focus on personalized service, they assist clients through the SBA 7(a) loan program, providing flexible terms and competitive rates to help businesses succeed. The bank’s experienced team guides borrowers through the application process, ensuring clarity and efficiency from start to finish. They support a variety of industries, including retail, healthcare, and manufacturing, with an emphasis on fostering local economic development. Their commitment to community banking means they prioritize relationships and tailored financial products to meet unique business needs. Whether you’re a startup or an established enterprise, Providence Bank & Trust aims to be a trusted partner in your growth journey, offering expertise and support at every step. Their SBA lending programs are designed to help businesses access capital with favorable terms, making it easier to achieve your business goals.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.8
Google Review Count
13
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA lending solutions, including the 7(a) program, to help small and medium-sized businesses access capital. You can find personalized support, competitive rates, and guidance through the loan process here.
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. Calling ahead can help streamline your visit.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s advisable to call ahead for specific appointment times or to confirm hours on holidays.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to inquire about SBA loans or to begin the application process. However, loan-specific fees such as guarantee and origination fees may apply upon approval.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local businesses and residents in the South Holland area but offers SBA loan programs to qualified applicants nationwide.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 650 is generally recommended, but approval depends on overall financial health and collateral availability.
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 application and completeness of documentation.
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