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SouthernTrust Bank

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Description

SouthernTrust Bank offers comprehensive SBA lending services tailored to meet the needs of small and medium-sized businesses. With a focus on supporting local entrepreneurs, the bank provides access to various SBA loan programs, including the popular 7(a) program, to help fund business expansion, equipment purchase, or working capital. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. Located in Goreville, Illinois, the bank is committed to fostering economic growth in the region by offering flexible financing options and personalized service. Whether you’re a startup or an established business, SouthernTrust Bank strives to provide solutions that align with your financial goals and growth plans. Their expertise in SBA lending makes them a trusted partner for business owners seeking reliable funding sources.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.8
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 financial services designed to support small business growth. You can find assistance with funding options, loan applications, and personalized financial advice tailored to your business 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 loan specialist, 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 from Monday to Friday, 9:00 AM to 5:00 PM. It is advisable to call ahead for specific services or to confirm hours for special circumstances.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit the bank, but loan processing and application fees may apply depending on the services used. These are typically disclosed during the consultation process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and businesses within the region, but they also welcome inquiries from out-of-area clients seeking SBA financing options.
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 for SBA loan guarantors, though higher scores may 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 60 days, depending on the complexity of the loan and completeness of the application.
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