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Norway Savings Bank

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Description

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses with a range of loan options, including SBA 7(a) loans. Located in Norway, Maine, it provides tailored financing solutions to meet the needs of local entrepreneurs and business owners. The bank’s experienced team guides clients through the application process, ensuring clarity and efficiency. With a focus on community development, it supports various industries, helping businesses expand and thrive. The institution is known for its personalized service, competitive rates, and quick approval times, making it a reliable partner for small business growth. Whether you’re looking to purchase equipment, expand operations, or manage cash flow, this bank offers flexible financing options. Its commitment to fostering local economic development makes it a preferred choice for small business owners in the region. The bank’s support for SBA programs underscores its dedication to helping entrepreneurs access the capital they need to succeed.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.6
Google Review Count
19
Question 1
What is this place and what can I find here?
Answer 1
This is a local SBA lender offering small business loans, including SBA 7(a) financing, with personalized service to help entrepreneurs grow and succeed.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated assistance, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday, with appointments available outside regular hours upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; standard loan application and closing costs apply to financed loans.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This service is primarily available to small business owners and entrepreneurs in the region, with some services open to non-residents on a case-by-case basis.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 650 is typically required, 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 generally takes approximately 2 to 4 weeks, depending on the completeness of documentation and loan complexity.
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