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Southern Bank and Trust Company

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Description

Southern Bank and Trust Company offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support for growth and operational needs. With a focus on small business financing, the bank provides various loan options including SBA 7(a) loans, which are ideal for working capital, equipment purchases, or expansion projects. The bank’s experienced lending team works closely with clients to understand their unique requirements and guide them through the application process, ensuring a smooth experience from start to finish. Located in Mount Olive, North Carolina, the bank serves local entrepreneurs and small business owners, helping them access the capital necessary to succeed. Their SBA programs are designed to support a wide range of industries, with a particular emphasis on service-oriented businesses such as restaurants, healthcare, and retail. The bank prides itself on personalized service, competitive rates, and flexible terms that accommodate the needs of small business borrowers. Whether you’re a startup or an established company, Southern Bank and Trust Company is committed to helping you achieve your business goals through reliable SBA lending options.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.6
Google Review Count
8
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 designed to help entrepreneurs grow and succeed. You can find personalized support, expert guidance, and competitive loan options tailored to your business needs.
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 lending specialist, but walk-ins are also welcome during business hours for initial inquiries.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, loan processing and closing may include standard fees and charges associated with SBA lending.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and entrepreneurs in North Carolina, with a focus on local residents and businesses within the region.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally required to qualify for SBA loans at this bank.
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 completeness of documentation and loan complexity.
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