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The North Salem State Bank

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Description

Offering comprehensive SBA lending options, this financial institution specializes in supporting small businesses with tailored financing solutions. Whether you’re seeking funding for expansion, equipment, or working capital, they provide expert guidance throughout the loan process. Their services include SBA 7(a) loans, which are ideal for a variety of business needs, and they are committed to helping entrepreneurs succeed. Located in North Salem, Indiana, they serve local businesses and beyond, ensuring accessible and flexible financing options. The bank’s experienced team understands the nuances of SBA lending and works diligently to streamline the approval process, making it easier for small business owners to access the capital they need to grow and thrive. With a focus on personalized service, they aim to foster economic development within their community and support entrepreneurs at every stage of their business journey.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.1
Google Review Count
14
Question 1
What is this place and what can I find here?
Answer 1
This is a trusted SBA lender offering small business financing options, including SBA 7(a) loans, to support business growth and development in the region.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated service, 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 5:00 PM, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting; however, loan application and processing fees may apply for financing services.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners within the region, but eligibility is based on financial qualifications rather than residency alone.
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, but approval depends on the overall financial profile.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes 30 to 45 days, depending on the completeness of the application and supporting documents.
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