Fidelity Co-Operative Bank
Description
Fidelity Co-Operative 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 programs including the SBA 7(a) loan program, which is ideal for working capital, equipment purchase, or real estate acquisition. Their experienced lending team works closely with clients to understand their unique financial situations and craft suitable financing solutions. The bank’s commitment to personalized service and flexible lending options makes it a trusted partner for entrepreneurs and business owners in the Leominster area and beyond.
Location
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Q&A
Lender Type
Commercial Bank
Google Rating
3.3
Google Review Count
18
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender offering business loans, including SBA 7(a) financing, to support small business growth and development. You can find personalized lending solutions, expert guidance, and access to various SBA programs designed to meet 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 officer, but walk-in consultations may also be accommodated during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, loan processing and closing may involve standard fees as outlined in your loan agreement.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local residents and small businesses within its regional footprint, but eligibility depends on meeting specific loan criteria.
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, though other factors may also influence approval.
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 documentation.