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Resource Bank, National Association

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Description

Resource Bank, National Association offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth and expansion. With a focus on small business needs, this bank provides various SBA loan programs including the popular 7(a) program, which supports a wide range of business purposes such as working capital, equipment purchase, and real estate acquisition. Their experienced lending team works closely with clients to understand their unique financial situations and craft suitable loan solutions. Located in DeKalb, Illinois, they serve local businesses as well as clients across the nation, ensuring accessible and flexible financing options. The bank is equipped to handle loan amounts up to $300,000, making it an ideal choice for small to mid-sized companies looking for reliable SBA-backed funding. Their commitment to supporting entrepreneurs is reflected in their streamlined application process and personalized service, helping businesses secure the capital they need to thrive.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.3
Google Review Count
47
Question 1
What is this place and what can I find here?
Answer 1
This is a bank that offers SBA loan programs designed to help small and medium-sized businesses secure financing for various needs such as expansion, equipment, and real estate. You can find personalized support and flexible loan options tailored to your business goals.
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 officer, but walk-in consultations may also be available during business hours depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 8:30 am to 5:00 pm, Monday through Friday, but hours may vary, so it’s best to contact them in advance.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting; however, loan application and processing fees may apply depending on the specific financing arrangement.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and entrepreneurs, with eligibility based on creditworthiness and business qualifications, regardless of residency status within the country.
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 typically 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 generally takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.
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