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Charles River Bank

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Description

Offering comprehensive SBA lending services, Charles River Bank specializes in supporting small businesses with financing options tailored to their growth needs. With a focus on the SBA 7(a) program, the bank provides loans up to $252,000 to help entrepreneurs expand, purchase equipment, or refinance existing debt. Their experienced team guides clients through the application process, ensuring clarity and efficiency from start to finish. Located in Medway, Massachusetts, the bank has a strong local presence and a commitment to fostering small business success. They understand the unique challenges faced by small business owners and offer personalized solutions to meet those needs. Whether you’re a startup or an established enterprise, Charles River Bank is equipped to assist with funding that aligns with your business goals. Their expertise in SBA lending makes them a reliable partner for your financial growth journey.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
14
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs and small business financing solutions. You can find personalized support for your business needs, including guidance through the application process and access to various loan options to help your business grow.
Question 2
Do I need an appointment or can I walk in?
Answer 2
You can walk in during business hours, but it is recommended to schedule an appointment to ensure dedicated time with a lending specialist and a smoother process.
Question 3
What are the hours of operation?
Answer 3
The bank is typically open from 9:00 AM to 4:00 PM, Monday through Friday. It is advisable to call ahead or schedule an appointment for specific services or consultations.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit the bank or inquire about services, but loan applications and processing may involve fees such as guarantee fees, closing costs, or service charges disclosed during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small business owners in the Medway area, but they also offer services to non-residents depending on eligibility and loan requirements.
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 recommended, but approval depends on the overall financial profile and business viability.
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 application and completeness of submitted documentation.
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