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State Bank

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Description

State Bank offers comprehensive SBA lending services tailored to meet the needs of small businesses seeking financial support for growth, equipment, or working capital. With a focus on the 7(a) loan program, they provide flexible financing options that help entrepreneurs access the capital they need to succeed. Located in Brownsburg, Indiana, this commercial bank specializes in serving local businesses, providing personalized service and expert guidance throughout the loan process. Their experienced team is dedicated to helping clients navigate SBA requirements and secure funding efficiently. Whether you’re starting a new venture or expanding an existing one, State Bank is committed to supporting your business goals with competitive rates and responsive support. They also offer advice on loan structuring, repayment terms, and eligibility criteria to ensure a smooth borrowing experience. With a history of approving loans up to $509,000, they are well-equipped to handle a variety of financing needs for small and medium-sized enterprises. Their commitment to community development and small business growth makes them a trusted partner in the Indiana region.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.5
Google Review Count
8
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender providing small business financing solutions, including SBA 7(a) loans, to help entrepreneurs grow and succeed. You can find personalized support, loan application guidance, and access to capital 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 loan officer, but walk-in consultations may be available 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 typically operates Monday through Friday from 9:00 AM to 5:00 PM, but hours may vary. It"s best to contact the branch directly to confirm current hours or schedule an appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply consulting or applying for SBA loans, but standard loan closing costs and guaranty fees may apply if your application is approved. These costs are disclosed upfront during the loan process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small businesses within the regional area, especially those located in or serving Brownsburg and surrounding communities. Business eligibility is based on SBA program criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is generally preferred, though higher scores can improve approval chances and loan terms.
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 completeness of your application and the complexity of your loan request.
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