Go Back
Report Abuse

Saco and Biddeford Savings Institution

photo-137.png
photo-137.png

Description

Saco and Biddeford Savings Institution offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or startup ventures. As a trusted commercial bank located in Saco, Maine, it provides a range of loan options including SBA 7(a) loans, which are ideal for working capital, equipment purchases, or real estate acquisitions. The bank prides itself on its personalized service and expertise in navigating SBA loan processes, ensuring clients receive the guidance needed to secure funding efficiently. With a focus on fostering local economic development, the institution supports small businesses across various industries, particularly in manufacturing and retail sectors. Its experienced lending team works closely with borrowers to customize loan solutions that meet their specific needs, offering flexible terms and competitive rates. Whether you’re a new entrepreneur or an established business looking to expand, Saco and Biddeford Savings Institution is committed to helping you achieve your financial goals through its SBA lending programs.

Location

There are no reviews yet.

Q&A

Lender Type
Commercial Bank
Google Rating
3.7
Google Review Count
35
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs to small businesses, providing financing options for growth, expansion, and startups with personalized service and expert guidance.
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-ins may also be accommodated during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
There are standard application and closing fees associated with SBA loans, which vary depending on the loan size and terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners in Maine, but eligibility is based on creditworthiness and business criteria, not residency alone.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally required for SBA loan guarantors.
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.
Scroll to Top