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Machias Savings Bank

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Description

Machias Savings Bank offers comprehensive SBA loan services tailored to meet the needs of small businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, the bank provides access to various SBA programs, including the popular 7(a) loan program, which is ideal for funding working capital, equipment, and real estate purchases. The bank’s experienced lending team guides clients through the application process, ensuring clarity and support at every step. They serve a diverse range of industries, with particular strength in sectors like retail, healthcare, and manufacturing. The bank emphasizes flexible loan options, competitive rates, and dedicated customer service to help small business owners succeed. Whether you’re starting a new venture or expanding an existing business, Machias Savings Bank is committed to providing tailored financial solutions to meet your unique needs.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.5
Google Review Count
18
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan services, including the 7(a) program, to help small businesses in Maine secure financing for various needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to meet with a loan officer, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9 am to 4 pm, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are standard SBA loan fees, which vary depending on the loan amount and terms; consult with the bank for specific details.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small businesses within Maine, with a focus on local community support.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a minimum personal credit score of 640 is preferred, but other factors are also considered during underwriting.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes about 30 to 45 days, depending on the complexity of the loan application.
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