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Monson Savings Bank

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Description

Monson Savings Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on the local community, the bank provides flexible loan options under the SBA 7(a) program, helping entrepreneurs access capital with favorable terms. Their experienced team guides clients through the application process, ensuring clarity and support at every step. The bank’s offerings include loans for working capital, equipment, real estate, and more, with approval amounts up to $360,000. Committed to fostering local economic development, Monson Savings Bank emphasizes personalized service and community engagement to meet the unique needs of small business owners in the region.

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Q&A

Lender Type
Commercial Bank
Google Rating
4
Google Review Count
24
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 capital for growth, real estate, equipment, and working capital needs, with personalized support and community focus.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 4:00 PM, with additional hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; standard loan application and closing fees may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This service is primarily available to small business owners within the region, though eligibility depends on meeting 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 640 is generally preferred, though higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 45 days, depending on the completeness of the application and documentation.
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