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Katahdin Trust Company

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Description

Katahdin Trust Company offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth and expansion. With a focus on SBA 7(a) loans, the bank provides flexible financing options that help entrepreneurs access capital for various needs including real estate, equipment, and working capital. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. The bank’s commitment to personalized service and local expertise makes it a reliable partner for business owners in the region. They support loan amounts up to $4,500,000, making them well-suited for larger projects or business acquisitions. Whether you’re a startup or an established enterprise, Katahdin Trust Company aims to facilitate your business goals with tailored financial solutions and expert advice.

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Q&A

Lender Type
Commercial Bank
Google Rating
5
Google Review Count
4
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs to help small and medium-sized businesses access financing for growth and expansion. You can find personalized support and expert guidance throughout the loan process to meet your business needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also welcome during business hours. Calling ahead can help you prepare for your visit.
Question 3
What are the hours of operation?
Answer 3
The bank operates during regular business hours, typically Monday through Friday from 9:00 AM to 4:00 PM. It’s best to contact the branch directly for specific hours or to schedule an appointment.
Question 4
Is there a fee to use this?
Answer 4
There are fees associated with SBA loans, including application and closing costs, which vary depending on the loan specifics. These fees are disclosed upfront during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and businesses within the region. Eligibility depends on meeting loan requirements and regional criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is generally preferred, 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 the application.
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