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Somerset Trust Company

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Description

Offering comprehensive SBA lending services, Somerset Trust Company specializes in supporting small businesses with various financing options. Their expertise includes SBA 7(a) loans, which are ideal for working capital, equipment, and expansion needs. Located in Somerset, PA, they serve local entrepreneurs and businesses seeking reliable financial support. The bank provides personalized service to help clients navigate the complexities of SBA loan programs, ensuring tailored solutions that meet specific business goals. With a strong focus on community development, Somerset Trust Company is committed to fostering economic growth in the region. Their team offers guidance throughout the application process, making it easier for small business owners to access the capital they need. Whether you’re starting a new venture or expanding an existing one, they aim to deliver flexible financing options with competitive terms. Their experience in SBA lending makes them a trusted partner for small business success in Somerset and beyond.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.3
Google Review Count
31
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs and small business financing solutions, with personalized service to help entrepreneurs grow their businesses.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment for dedicated financial advice, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9 am to 5 pm, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There may be application and processing fees associated with SBA loans; specific fee details will be provided during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This service is primarily available to small business owners in Somerset and surrounding regions seeking SBA financing.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 650 is generally preferred, 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 30 to 60 days, depending on the complexity of the application and completeness of documentation.
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