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The Lowell Five Cent Savings Bank

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Description

Offering comprehensive SBA loan services, this financial institution specializes in supporting small businesses with funding options tailored to their needs. With a focus on SBA programs like 7A, they assist entrepreneurs in securing capital for growth, working capital, or acquisitions. Their experienced team provides guidance throughout the application process, ensuring clients understand the requirements and benefits of each loan type. Located conveniently in Tewksbury, MA, they serve a diverse range of industries, emphasizing personalized service and flexible lending solutions. Whether you’re a startup or an established business, they aim to facilitate your financial goals with competitive rates and efficient processing. Their expertise extends to supporting businesses in various sectors, including manufacturing, retail, and service industries, helping local and regional businesses thrive. The bank’s commitment to small business success is reflected in their tailored approach and dedication to customer satisfaction. They also offer microloans and express lending options for quicker access to funds, making them a versatile partner for your business needs.

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Q&A

Lender Type
Commercial Bank
Google Rating
2.3
Google Review Count
3
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution that offers SBA loan programs and small business financing solutions. You can find assistance with loans, microloans, and other funding options tailored to small businesses" needs.
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 from 9:00 AM to 5:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting; fees may apply for specific services or loan processing, 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, with services available to eligible applicants in the region.
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 required, though higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes 2 to 4 weeks, depending on the complexity of the application and completeness of documentation.
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