Parke Bank

This is a financial institution offering SBA loan programs designed to support small business growth. You can find information about their loan options, application processes, and support services here.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins may be accommodated depending on availability.

Typically, they operate from 9 AM to 5 PM, Monday through Friday, but it's best to confirm by contacting the branch directly.

There may be application and closing fees associated with SBA loans, but these are disclosed upfront and vary based on the loan specifics.

This institution primarily serves small business owners and entrepreneurs, with eligibility based on business criteria and creditworthiness.

A minimum personal credit score of 620 is generally required to qualify for SBA loans.

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

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

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

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

Email Parke Bank at info@parkebank.com to inquire about lending services, or call (856) 256-2500. Be sure to ask specifically about SBA loan programs and confirm their current SBA lending capabilities.

Based on its approved SBA loans, Parke Bank most often finances businesses in general retail, restaurants & food service, and construction & contractors. This reflects Parke 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 Parke 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 Parke Bank participates in SBA Express depends on its specific SBA lending authority. Contact Parke 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. Parke 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. Parke Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Parke 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 Parke 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 Parke 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 Parke 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. Parke Bank weighs this case by case under its own policy, so be upfront about your history and ask Parke Bank how it evaluates prior bankruptcies.