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If you are looking for a lender that is committed to supporting local businesses and organizations, a credit union may be a good choice. Obtaining a loan from a bank can be a fantastic option for individuals or businesses in need of financial support.
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There are several advantages to getting a loan from a bank. Avoid applying for new credit unnecessarily: Each time you apply for credit, it generates a "hard inquiry" on your credit report, which can slightly lower your credit score.