Lafayette State Bank

This is Lafayette State Bank, a local financial institution offering SBA loan programs and personalized banking services to support small business growth in the Mayo area.

It is recommended to schedule an appointment to discuss your SBA loan needs, but walk-in consultations may also be available during business hours.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.

There are no fees to access basic banking services; loan application fees may apply depending on the specific loan product.

This bank primarily serves residents and small businesses in the Mayo region, but qualified applicants from surrounding areas may also be considered.

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

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

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

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

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

You can reach Lafayette State Bank by phone at (386) 294-1901 or online at lafayettestate.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 Lafayette State Bank before relying on them.

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