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Dedham Institution for Savings

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Description

Dedham Institution for Savings offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, they assist clients through the SBA 7(a) loan program, providing funding options up to $250,000. Their experienced team guides borrowers through the application process, ensuring clarity and efficiency. Located conveniently at 55 Elm St in Dedham, MA, this institution is committed to helping local businesses thrive by offering flexible financing solutions backed by the SBA. They understand the unique challenges faced by small business owners and work diligently to provide tailored financial products that meet individual needs. Whether you’re looking to purchase equipment, expand your premises, or improve cash flow, Dedham Institution for Savings is equipped to support your goals with a strong understanding of the local market and SBA programs.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.2
Google Review Count
42
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs designed to help small businesses access funding for growth, equipment, and operational needs. You can find personalized financial services and expert guidance to navigate the SBA lending process. They focus on supporting small businesses in the Dedham area with tailored loan options and local market expertise.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to meet with a loan officer, but walk-in consultations may be available depending on staffing. Calling ahead ensures you receive dedicated time and personalized assistance for your SBA loan application.
Question 3
What are the hours of operation?
Answer 3
The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to contact the branch directly for specific hours or to schedule an appointment outside regular hours if needed.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting; however, loan processing and application fees may apply depending on the loan terms. These fees are disclosed upfront during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners within the local community. Non-residents may be eligible if they meet certain criteria and have a business operating in the area.
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, though higher scores can improve the likelihood of approval and better loan terms.
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 completeness of your application and the complexity of your financial situation.
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