Petefish, Skiles & Co.
Petefish, Skiles & Co. is an active SBA lender in the United States, a bank offering SBA-guaranteed small-business loans. Currently rated 4.0 stars across 8 Google reviews.
About Petefish, Skiles & Co.
Offering comprehensive SBA loan services, this commercial bank specializes in supporting small to medium-sized businesses with their financing needs. Whether you're looking to expand, purchase equipment, or refinance existing debt, they provide tailored solutions to help your business grow. Their expertise includes SBA 7(a) loans, which are ideal for a variety of business purposes, and they have a strong track record of approving substantial loan amounts, with the largest recorded approval reaching over $3 million. Located in Virginia, IL, they serve local businesses and have a history of facilitating SBA program funding to foster economic development in the region.
Common questions about Petefish, Skiles & Co.
What is this place and what can I find here?
This is a commercial bank that offers SBA loan programs, including 7(a), to support small and medium-sized businesses in securing financing for growth and development.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated assistance, but walk-ins may be accommodated depending on availability.
What are the hours of operation?
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Is there a fee to use this?
There may be fees associated with loan processing and closing, which are outlined during the application process.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local business owners and residents in the Virginia, IL area, but may consider applicants from broader regions for certain programs.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of around 640 is generally preferred for loan consideration.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 45 days, depending on the completeness of the application and supporting documents.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Petefish, Skiles & Co. 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 Petefish, Skiles & Co. to confirm current weekend availability before you go.
How do I get there and where do I park?
Petefish, Skiles & Co. is located at the address listed on this page — 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.
Who owns or operates this listing?
This page is an independent directory listing for Petefish, Skiles & Co., an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Petefish, Skiles & Co. itself, which runs its own lending under its own ownership. If you work at Petefish, Skiles & Co., you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Petefish, Skiles & Co. — 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 Petefish, Skiles & Co. before applying. If you represent Petefish, Skiles & Co., claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Petefish, Skiles & Co. by phone at (217) 452-3041 or online at petefishskiles.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 Petefish, Skiles & Co. before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Petefish, Skiles & Co. 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 Petefish, Skiles & Co. directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Petefish, Skiles & Co. participates in SBA Express depends on its specific SBA lending authority. Contact Petefish, Skiles & Co. and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
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. Petefish, Skiles & Co. can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
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. Petefish, Skiles & Co.'s appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Petefish, Skiles & Co. directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
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 Petefish, Skiles & Co. what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
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 Petefish, Skiles & Co. to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
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 Petefish, Skiles & Co. to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
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. Petefish, Skiles & Co. weighs this case by case under its own policy, so be upfront about your history and ask Petefish, Skiles & Co. how it evaluates prior bankruptcies.