First State Bank of Porter

This is a community-focused bank offering SBA loan programs and personalized banking services to small businesses in Porter, Indiana.

It's recommended to schedule an appointment, but walk-ins are welcome during regular banking hours for consultations and application assistance.

First State Bank of Porter's main office is open Monday through Friday from 8:30 AM to 5:00 PM, with Saturday hours from 8:30 AM to 12:00 PM at the Porter and Pines branches. Drive-up service starts one hour earlier. Confirm hours with your specific branch location.

There are no fees to visit the bank; however, loan processing and application fees may apply depending on the services requested.

The bank primarily serves local residents and small businesses in the Porter area, but certain services may be available to non-residents upon qualification.

A minimum personal credit score of 640 is generally required for loan consideration, though higher scores improve approval chances.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of documentation and loan complexity.

Yes, First State Bank of Porter is open on Saturday from 8:30 AM to 12:00 PM at the Porter and Pines branches, though the Chesterton branch is closed on Saturdays. Contact your specific branch directly to confirm.

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

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

First State Bank of Porter can be reached by phone at (219) 926-2136 or through their contact form at https://www.porterstatebank.com/contact-us/. Contact the lender to confirm details.

Like most SBA lenders, First State Bank of Porter 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 First State Bank of Porter 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 First State Bank of Porter participates in SBA Express depends on its specific SBA lending authority. Contact First State Bank of Porter 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 State Bank of Porter 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 State Bank of Porter's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask First State Bank of Porter 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 State Bank of Porter 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 State Bank of Porter 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 State Bank of Porter 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 State Bank of Porter weighs this case by case under its own policy, so be upfront about your history and ask First State Bank of Porter how it evaluates prior bankruptcies.