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St. Lawrence FCU

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Description

Offering comprehensive financial services tailored for small businesses and community members, this institution provides a range of SBA loan options to support business growth and development. With a focus on small business financing, it helps entrepreneurs secure funding through the SBA 7(a) program, which is ideal for working capital, equipment purchases, or expansion projects. The bank’s experienced team guides clients through the application process, ensuring they understand the requirements and benefits of SBA loans. Located in Ogdensburg, NY, it serves the local business community while also supporting regional economic development initiatives. The bank emphasizes personalized service, assisting clients in navigating the complexities of SBA lending to achieve their business goals. Whether you’re starting a new venture or expanding an existing one, this lender offers flexible financing solutions to meet diverse needs. Their commitment to supporting small businesses is reflected in their dedicated SBA lending team and streamlined approval process, making it easier for borrowers to access the capital they need.

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Q&A

Lender Type
Commercial Bank
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA loans and small business financing solutions. You can find assistance with loan applications, personalized financial advice, and support for business growth initiatives.
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-in consultations may also be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s advisable to call ahead for specific appointment times or after-hours services.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, standard loan application and closing fees may apply depending on the financing arrangement.
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 community and surrounding regions, with some services available to non-residents under specific conditions.
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 through this lender.
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 complexity of the loan and completeness of the application.
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