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Union Savings Bank

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Description

Offering a range of financial products tailored for small businesses, this commercial bank provides SBA loan options including the popular 7(a) program. Whether you’re seeking funding for expansion, equipment, or working capital, they can assist with flexible lending solutions designed to meet your needs. Located in Danbury, CT, the bank is committed to supporting local entrepreneurs and small business growth through personalized service and competitive rates. Their experienced team guides clients through the application process, ensuring clarity and efficiency from start to finish. With a focus on community development, they also offer resources and advice to help small businesses succeed in a competitive marketplace.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.4
Google Review Count
7
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs, including the 7(a) loan, to support small business growth and development. You can find personalized financial services, expert guidance, and flexible lending options tailored to 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 officer, but walk-in consultations may also be available during business hours. Calling ahead can help you prepare for your visit.
Question 3
What are the hours of operation?
Answer 3
Typically, the bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to check directly with the branch for specific hours or any holiday closures.
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 fees such as application or closing costs, which will be disclosed upfront.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and entrepreneurs in the Danbury area, but they welcome qualified applicants from the local community and surrounding regions.
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 can improve approval chances and loan terms.
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 completeness of your application and the complexity of your loan request.
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