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The Litchfield National Bank

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Description

The Litchfield National Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on the local community, this bank provides personalized assistance to entrepreneurs and business owners looking to access government-backed loan programs. Their experienced team guides clients through the application process, ensuring clarity and efficiency. The bank supports various SBA programs, including the popular 7(a) loan program, which is ideal for a wide range of business purposes such as working capital, equipment purchase, or real estate acquisition. They also have a history of approving loans up to $25,000, making them accessible for small-scale projects. Located in Litchfield, Illinois, the bank is committed to fostering local economic development and helping small businesses thrive in the region.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.7
Google Review Count
33
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs and banking services tailored for small businesses in the Litchfield area. You can find assistance with loans, business accounts, and financial guidance to support your business growth.
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 banking specialist, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 4:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are fees associated with certain banking services and loan processing; please contact the bank for specific fee details.
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 local community, but they welcome new clients meeting their lending 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 other factors are also considered.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes 2 to 4 weeks, depending on the complexity of the loan and completeness of documentation.
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