Union State Bank

This is a commercial bank that provides SBA loan programs and financial services tailored to small businesses, including support for SBA 7(a) loans and regional business growth initiatives.

It's recommended to schedule an appointment to ensure dedicated service, but walk-ins are also accommodated depending on availability.

Typically, the bank operates from 9 AM to 5 PM, Monday through Friday, but hours may vary, so it's best to contact them directly.

There are fees associated with loan processing and service charges, which vary based on the specific loan product and amount.

This bank primarily serves small business owners and residents within the region, with eligibility based on creditworthiness and business qualifications.

A minimum personal credit score of around 650 is generally preferred, though higher scores improve approval chances.

The underwriting process typically takes 2 to 4 weeks, depending on the completeness of application materials and loan complexity.

Most banks keep weekday business hours and are closed on weekends, and Union State Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Union State Bank to confirm current weekend availability before you go.

Union State Bank is located in Iowa — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Union State Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Union State Bank itself, which runs its own lending under its own ownership. If you work at Union State Bank, you can claim this listing from this page to manage it.

The core details for Union State Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Union State Bank before applying. If you represent Union State Bank, claim this listing to keep its information up to date.

You can reach Union State Bank by phone at (641) 343-7310 or online at usbgfd.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Union State Bank before relying on them.

Like most SBA lenders, Union State Bank can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask Union State Bank directly which industries it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Union State Bank participates in SBA Express depends on its specific SBA lending authority. Contact Union State Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Union State Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Union State Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Union State Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Union State Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Union State Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Union State Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Union State Bank weighs this case by case under its own policy, so be upfront about your history and ask Union State Bank how it evaluates prior bankruptcies.