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Security Federal Savings Bank

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Description

Security Federal Savings Bank offers comprehensive SBA lending options tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on serving the local community, the bank provides personalized service and flexible financing solutions to help entrepreneurs succeed. Their SBA programs include the 7(a) loan, which is ideal for a variety of business purposes such as working capital, equipment purchase, or real estate acquisition. The bank has a proven track record of approving loans up to $207,000, demonstrating their commitment to supporting small business development. Whether you’re a startup or an established company, they work closely with clients to structure loans that meet their specific needs, ensuring a smooth and efficient process from application to funding.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.2
Google Review Count
28
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA loan programs designed to support small businesses with financing solutions tailored to their needs. You can find assistance with loan applications, guidance on SBA programs, and personalized banking services to help your business grow.
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 and prepare necessary documentation.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM. Hours may vary on holidays or special occasions, so it"s best to contact the branch directly for confirmation.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting with the bank; however, loan processing and application fees may apply depending on the specific financing arrangement. These fees are disclosed upfront during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small business owners within the community. While they focus on regional clients, they may consider applications from qualified borrowers outside the immediate area on a case-by-case basis.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a minimum personal credit score of 640 or higher is preferred for guarantors, though stronger credit profiles 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 2 to 4 weeks, depending on the completeness of documentation and the complexity of the loan application.
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