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Franklin Savings Bank

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Description

Offering comprehensive SBA lending services, Franklin Savings Bank specializes in supporting small businesses with financing solutions tailored to their needs. With a focus on small business growth, the bank provides SBA 7(a) loans, which are ideal for working capital, equipment purchases, and expansion projects. Located in Farmington, Maine, the bank is committed to fostering local economic development and helping entrepreneurs succeed. Their team is experienced in guiding clients through the loan application process, ensuring clarity and support at every step. Whether you’re starting a new venture or expanding an existing business, Franklin Savings Bank offers flexible financing options to meet your goals. They understand the unique challenges faced by small businesses and aim to provide accessible funding solutions. The bank’s primary focus is on small enterprises within the region, but they also serve a broader community, supporting various industries including agriculture, retail, and services. Their dedicated staff is ready to assist with personalized financial advice and SBA loan expertise, making them a trusted partner for local business owners.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.1
Google Review Count
14
Question 1
What is this place and what can I find here?
Answer 1
This is Franklin Savings Bank, where you can find a variety of SBA loan options and financial services tailored for small businesses in Maine. They provide expert guidance to help entrepreneurs access the capital they need for growth and expansion.
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 are also welcome during business hours. Calling ahead can help streamline your visit.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s best to contact them in advance to confirm availability or schedule an appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply consulting with their staff; however, loan application fees and other charges may apply depending on the specific financing product.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
Services are primarily available to small business owners within the region, but eligibility depends on meeting specific loan criteria and credit requirements.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is generally preferred, but final decisions depend 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 documentation.
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