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Chemung Canal Trust Company

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Description

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses with a range of loan options. Whether you’re seeking funding for expansion, working capital, or equipment purchases, they provide tailored solutions to meet your needs. Their experienced team guides borrowers through the application process, ensuring clarity and efficiency. With a focus on community development, they serve local entrepreneurs and small business owners, fostering growth and economic vitality in the Elmira area. The bank’s SBA programs include 7(a) and 504 loans, designed to facilitate business expansion, real estate acquisition, and equipment financing. Their commitment to accessible lending is reflected in competitive terms and personalized service. They also support microloans and express options for faster funding, making them a versatile partner for various business stages. The bank prides itself on a straightforward fee structure and transparent processes, ensuring clients understand all costs involved. Their primary industry focus is retail, with extensive experience helping retail businesses thrive. Located centrally in Elmira, NY, they are well-positioned to serve the regional business community and beyond. Whether you’re a startup or an established enterprise, this bank offers the financial tools and expertise to help your business succeed.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
52
Question 1
What is this place and what can I find here?
Answer 1
This is a trusted SBA lender offering small business loans, including 7(a), 504, microloans, and express options. They provide personalized service to help entrepreneurs access the funding they need to grow and succeed.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may be accommodated depending on availability. Contacting ahead can streamline your visit.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 9 AM to 5 PM, Monday through Friday. It"s best to call ahead to confirm hours or schedule an appointment outside regular times.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting; however, loan applications and processing may involve standard fees, which will be clearly disclosed during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small business owners and entrepreneurs in the Elmira region, but eligibility depends on meeting specific loan criteria and creditworthiness.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally required, though higher scores may improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of application materials.
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