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VelocitySBA, LLC

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VelocitySBA, LLC
VelocitySBA, LLC

Description

VelocitySBA, LLC offers comprehensive SBA lending solutions tailored to meet the needs of small businesses seeking funding for growth, equipment, or working capital. As a commercial bank, it provides access to various SBA loan programs, including the popular 7(a) program, which supports a wide range of business financing needs. The bank specializes in serving clients across diverse industries, with a focus on facilitating business expansion and operational stability. Its experienced lending team guides borrowers through the application process, ensuring clarity and support at every step. Whether you’re a startup or an established enterprise, VelocitySBA, LLC aims to provide flexible financing options with competitive terms. The bank’s commitment to small business success is reflected in its personalized service and tailored loan structures designed to meet unique business goals. Located in Irving, Texas, the bank leverages local market knowledge while offering nationwide access to SBA loan programs. With a history of approving large loans, such as approvals up to $986,000, VelocitySBA, LLC is well-equipped to support significant business investments. Its focus on SBA 7(a) loans underscores its dedication to helping small businesses thrive through accessible and affordable financing solutions.

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Q&A

Lender Type
Commercial Bank
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution specializing in SBA loans, offering small businesses access to funding options like 7(a), 504, and microloans to support growth and operational needs. You can find expert guidance, personalized service, and flexible financing solutions tailored to your business goals.
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 also be available during business hours. Calling ahead can help streamline the process and prepare necessary documentation.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s advisable to contact the branch directly for specific hours or to schedule an appointment outside regular hours if needed.
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 origination and closing fees may apply depending on the loan terms. It"s best to review the specific loan agreement for detailed fee information.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small business owners across the country, regardless of residency, provided they meet the qualification criteria for SBA loans. Business eligibility is the main focus.
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, but higher scores can improve approval chances and loan terms. Creditworthiness is evaluated alongside other financial factors.
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 complexity of the application and completeness of documentation. Working closely with the lender can help expedite the process.
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