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Security Bank, S.B.

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Description

Security Bank, S.B. offers comprehensive SBA lending services tailored to small businesses seeking financing solutions. With a focus on supporting local entrepreneurs, the bank provides various SBA loan programs including the 7(a) loan program, which is ideal for working capital, equipment purchase, and business expansion. Their experienced lending team works closely with clients to understand their needs and guide them through the application process, ensuring a smooth experience from start to finish. Located in Springfield, Illinois, the bank is committed to fostering economic growth within the community by providing accessible financing options. They serve a diverse range of industries, with particular strength in retail, healthcare, and service sectors. Whether you’re a startup or an established business, Security Bank, S.B. is dedicated to helping you achieve your business goals with personalized service and flexible lending options.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.7
Google Review Count
15
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs to small businesses, including the 7(a) loan, to help with growth, working capital, and equipment needs. You can find personalized financing solutions and expert guidance on SBA lending here.
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 specialist, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, but hours may vary on holidays or special occasions.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic consultation services, but loan application and processing fees may apply depending on the loan type and amount.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local small business owners and residents of the Springfield area, but eligibility depends on meeting lending criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is generally preferred, but higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 45 days, depending on the complexity of the application and completeness of documentation.
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