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Security Federal Bank

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Description

Security Federal Bank offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support for growth, expansion, or operational needs. With a focus on small business financing, the bank provides various loan options, including SBA 7(a) loans, that help entrepreneurs access capital with flexible terms and competitive rates. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. Located in Aiken, South Carolina, the bank serves the local community while also supporting regional economic development. Their SBA program expertise enables businesses to secure funding for equipment, real estate, working capital, and more, with approval amounts reaching up to $506,500. Whether you’re a startup or an established business, Security Federal Bank aims to foster growth and success through personalized financial solutions.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.8
Google Review Count
43
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs and financial services designed to support small business growth and development. You can find assistance with loan applications, business financing solutions, and expert guidance tailored to your needs.
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 banking specialist, but walk-in visits are also accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to contact the branch directly for specific hours or to schedule an appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic banking services, but loan applications and certain transactions may involve fees or interest charges based on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners within the region, though certain services may be available to non-residents with qualifying criteria.
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 generally preferred for loan eligibility, though other factors are also considered.
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 loan and completeness of the application.
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