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Fall River Five Cents Savings Bank d/b/a BankFive

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Description

BankFive offers a range of SBA loan options designed to support small businesses in their growth and development. With a focus on small business financing, they provide tailored solutions that include SBA 7(a) loans, which are ideal for working capital, equipment purchases, and expansion projects. The bank has a strong history of approving loans up to $75,000, helping entrepreneurs access the capital they need to succeed. Their experienced lending team works closely with clients to understand their unique needs and guide them through the application process, ensuring a smooth experience from start to finish. Located conveniently at 79 N Main St in Fall River, they serve local businesses and are committed to fostering economic growth within the community. Whether you’re a startup or an established business, BankFive is dedicated to providing flexible financing options that align with your goals and financial situation. Their expertise in SBA lending makes them a reliable partner for small business owners seeking reliable funding solutions.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
29
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused bank offering small business loans, including SBA financing options, to support local entrepreneurs and business growth in Fall River and beyond.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to discuss your financing needs, 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 fees associated with certain loan products, but these are clearly 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 within the community.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally required.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of your application and documentation.
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