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Bangor Savings Bank

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Description

Bangor Savings Bank offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth, expansion, or operational needs. With a focus on fostering local economic development, the bank provides various loan options, including SBA 7(a) loans, to help entrepreneurs access capital efficiently. Their experienced team guides clients through the application process, ensuring clarity and support at every step. Located in Bangor, Maine, the bank leverages its regional expertise to serve diverse industries, from manufacturing to retail. Whether you’re starting a new venture or expanding an existing business, Bangor Savings Bank’s SBA programs are designed to meet your funding needs with competitive terms and personalized service. They also offer flexible repayment options and quick turnaround times to help businesses capitalize on opportunities promptly. The bank’s commitment to community development makes it a trusted partner for local entrepreneurs looking for reliable financial solutions.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.2
Google Review Count
49
Question 1
What is this place and what can I find here?
Answer 1
This is Bangor Savings Bank, where you can find a range of financial services including SBA loans, personal banking, and business banking solutions tailored to meet your needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
You can walk in or schedule an appointment with their banking specialists to discuss your SBA loan options and get personalized assistance.
Question 3
What are the hours of operation?
Answer 3
The bank"s hours are typically Monday through Friday from 9 am to 5 pm, but it"s best to check their website or contact directly for specific branch hours.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic banking services; however, specific loan products may have associated fees and interest charges.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and businesses in Maine, but some services may be available to non-residents upon qualification.
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 final decisions depend on overall creditworthiness and business strength.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process usually takes approximately 2 to 4 weeks, depending on the complexity of the application and completeness of documentation.
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