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Androscoggin Savings Bank

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Description

Androscoggin Savings Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on the local community, the bank provides flexible financing options through the SBA 7(a) program, supporting a variety of industries including real estate, retail, and services. Their team of experienced lenders guides clients through the application process, ensuring clarity and efficiency from start to finish. The bank’s commitment to personalized service helps entrepreneurs access the capital they need to succeed, with approval amounts reaching up to $2,900,000 for qualifying projects. Whether you’re a startup or an established business, Androscoggin Savings Bank strives to meet your unique funding requirements with competitive terms and dedicated support.

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Q&A

Lender Type
Commercial Bank
Google Rating
5
Google Review Count
7
Question 1
What is this place and what can I find here?
Answer 1
This is a bank offering SBA loan programs and small business financing solutions, including support for real estate, equipment, and working capital needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment for personalized service, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
Yes, there are standard fees associated with SBA loans, including application and processing fees, which vary based on the loan specifics.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and residents in the Lewiston area, but eligibility can extend beyond local residents based on the loan program.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a minimum personal credit score of 640 is preferred, but stronger scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process usually takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.
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