Beverly Bank & Trust Company, National Association

This is a bank that offers SBA loan programs to support small businesses with funding options like 7(a) and 504 loans. They provide guidance throughout the application process and serve clients nationwide, helping entrepreneurs grow and expand their businesses.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins may be accommodated depending on availability. Contacting the bank in advance can streamline your experience.

The bank's typical hours are Monday through Friday, 9:00 AM to 5:00 PM. It's advisable to call ahead to confirm specific hours or to schedule an appointment.

There are fees associated with SBA loans, including application and guarantee fees, which vary based on the loan size and terms. These fees are disclosed during the application process.

This bank primarily serves small business clients across the country, regardless of residency, as long as they meet the loan eligibility criteria. Business owners should contact the bank to confirm specific requirements.

Typically, a minimum personal credit score of 620 is preferred, but higher scores can improve approval chances and loan terms.

The underwriting process generally takes between 30 to 60 days, depending on the complexity of the application and the completeness of submitted documentation.

Most banks keep weekday business hours and are closed on weekends, and Beverly Bank & Trust Company, National Association 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 Beverly Bank & Trust Company, National Association to confirm current weekend availability before you go.

Beverly Bank & Trust Company's Chicago location features dedicated parking lots for customers. Please confirm current availability, as this location is temporarily closed.

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

The core details for Beverly Bank & Trust Company, National Association — 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 Beverly Bank & Trust Company, National Association before applying. If you represent Beverly Bank & Trust Company, National Association, claim this listing to keep its information up to date.

You can reach Beverly Bank & Trust Company, National Association by phone at (773) 239-2265 or online at thebeverlybank.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 Beverly Bank & Trust Company, National Association before relying on them.

Like most SBA lenders, Beverly Bank & Trust Company, National Association 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 Beverly Bank & Trust Company, National Association directly which industries it actively lends to before you apply.

Beverly Bank & Trust Company offers SBA Express loans for mid-market companies starting, expanding, or buying a business. Confirm current availability and terms directly with the bank.

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. Beverly Bank & Trust Company, National Association can confirm its current PLP standing — ask before you apply if speed matters to you.

Beverly Bank & Trust Company serves companies that are starting or expanding a business, indicating startup eligibility. Confirm specific requirements and collateral terms with the bank.

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 Beverly Bank & Trust Company, National Association 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 Beverly Bank & Trust Company, National Association 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 Beverly Bank & Trust Company, National Association 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. Beverly Bank & Trust Company, National Association weighs this case by case under its own policy, so be upfront about your history and ask Beverly Bank & Trust Company, National Association how it evaluates prior bankruptcies.