The North Salem State Bank

This is a trusted SBA lender offering small business financing options, including SBA 7(a) loans, to support business growth and development in the region.

It's recommended to schedule an appointment to ensure dedicated service, but walk-ins are also welcome during business hours.

The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment.

There are no fees for simply visiting; however, loan application and processing fees may apply for financing services.

This bank primarily serves small business owners within the region, but eligibility is based on financial qualifications rather than residency alone.

A minimum personal credit score of 640 is generally preferred, but approval depends on the overall financial profile.

The underwriting process typically takes 30 to 45 days, depending on the completeness of the application and supporting documents.

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

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

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

You can reach The North Salem State Bank by phone at (765) 676-5100 or online at nssb.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 The North Salem State Bank before relying on them.

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