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Webster Five Cents Savings Bank

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Description

Webster Five Cents Savings Bank offers comprehensive SBA lending services tailored to small businesses seeking financial growth and stability. With a focus on supporting local entrepreneurs, this bank provides various loan options including the popular SBA 7(a) program, which helps businesses secure funding for expansion, equipment, or working capital. The bank’s experienced lending team guides clients through the application process, ensuring clarity and support at each step. Their loan offerings are designed to meet the diverse needs of small business owners, from startups to established enterprises. Located at 136 Thompson Rd in Webster, MA, the bank is committed to fostering economic development within the community. Whether you’re looking for a loan to purchase inventory, refinance debt, or invest in new facilities, Webster Five Cents Savings Bank can assist with flexible financing solutions. The bank emphasizes personalized service, quick turnaround times, and competitive rates to help your business thrive. Their expertise in SBA programs makes them a reliable partner for small business financing needs, ensuring you receive the support necessary to achieve your goals.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.9
Google Review Count
12
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering SBA loan programs and small business financing options designed to support local entrepreneurs and business owners.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated service, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit the bank; however, loan applications and services may involve standard fees and interest charges.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners within the Webster community and surrounding areas.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is generally preferred, but other factors are also considered during approval.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 2 to 4 weeks, depending on the complexity of the application and completeness of documentation.
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