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Cambridge Savings Bank

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Description

Cambridge Savings Bank offers comprehensive SBA lending services tailored to small businesses seeking financial growth and stability. With a focus on supporting local entrepreneurs, the bank provides a variety of loan options including SBA 7(a) loans, which are ideal for working capital, equipment purchases, and business expansion. Their experienced team assists clients through the entire loan process, ensuring clarity and support at every step. Located in Cambridge, MA, the bank is committed to fostering economic development in the community and offers personalized service to meet diverse business needs. Whether you’re a startup or an established enterprise, Cambridge Savings Bank is dedicated to helping you achieve your business goals with flexible financing solutions and expert guidance.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
17
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loan programs designed to support small business growth. You can find assistance with SBA 7(a) loans, expert advice, and personalized service to help you secure funding for your business 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 time with a loan specialist, but walk-ins may be accommodated depending on availability. Contact the bank in advance for the best experience.
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. Hours may vary on holidays or special occasions, so it"s best to confirm before visiting.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to access basic consultation services, but loan application and processing fees may apply depending on the loan terms. Always review fee details during your application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This service is open to small business owners and entrepreneurs who meet the eligibility criteria for SBA loans, regardless of residency, as long as they operate within the bank"s lending region.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 650 is generally preferred, but higher scores can improve approval chances. The bank considers overall creditworthiness and business stability.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application. Early preparation can help expedite approval.
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