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State Bank of Taunton

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State Bank of Taunton
State Bank of Taunton

Description

State Bank of Taunton offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and development. With a focus on providing accessible funding options, this bank specializes in SBA 7(a) loans, which are ideal for a variety of business needs including working capital, equipment purchase, and expansion projects. The bank’s experienced team guides clients through the application process, ensuring clarity and support at every step. Located in Taunton, Minnesota, the bank serves the local community while also supporting regional economic development. Their loan offerings include flexible terms and competitive rates, making them a trusted partner for small business owners looking to secure funding efficiently. The bank’s commitment to customer service and financial expertise helps entrepreneurs turn their business ideas into reality, fostering growth and stability within the local economy.

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Q&A

Lender Type
Commercial Bank
Google Rating
5
Google Review Count
2
Question 1
What is this place and what can I find here?
Answer 1
This is a trusted SBA lender offering small business loans, including SBA 7(a) financing, to support business growth and expansion in the local and regional areas.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated support, but walk-ins may be accommodated based on availability.
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 additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic information; loan application fees and closing costs apply as per the loan agreement.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small business owners in Minnesota, but eligibility depends on meeting SBA and underwriting criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is generally preferred, though higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The process typically takes 30 to 60 days, depending on the complexity of the application and completeness of documentation.
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