First Central State Bank

This is a commercial bank that offers SBA loan programs and small business financing solutions. You can find assistance with business expansion, equipment financing, and working capital needs, all tailored to support local entrepreneurs and small business owners.

It's recommended to schedule an appointment to ensure dedicated attention, but walk-ins are also welcomed during business hours. Calling ahead can help prepare your documents and streamline the process.

The bank operates Monday through Friday from 8:30 AM to 4:30 PM. It's advisable to confirm hours before visiting, especially during holidays or special circumstances.

There are no fees for simply visiting or consulting with the bank. Fees may apply for specific loan services or processing, which will be disclosed upfront.

This bank primarily serves local small business owners and residents in the De Witt area, but they welcome inquiries from qualified borrowers statewide seeking SBA financing.

A minimum personal credit score of around 640 is generally preferred, though higher scores can improve loan approval chances and terms.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of your application.

Most banks keep weekday business hours and are closed on weekends, and First Central 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 First Central State Bank to confirm current weekend availability before you go.

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

The core details for First Central 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 First Central State Bank before applying. If you represent First Central State Bank, claim this listing to keep its information up to date.

You can reach First Central State Bank by phone at (563) 659-3141 or online at firstcentralsb.bank — 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 First Central State Bank before relying on them.

Based on its approved SBA loans, First Central State Bank most often finances businesses in medical practices & clinics, manufacturing, restaurants & food service, catering & events, general retail, and construction & contractors. This reflects First Central State Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with First Central State Bank which sectors 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 First Central State Bank participates in SBA Express depends on its specific SBA lending authority. Contact First Central 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. First Central 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. First Central State Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First Central 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 First Central 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 First Central 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 First Central 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. First Central State Bank weighs this case by case under its own policy, so be upfront about your history and ask First Central State Bank how it evaluates prior bankruptcies.