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Shoreham Bank

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Description

Shoreham Bank offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on personalized service, the bank provides SBA 7(a) loans up to $240,000, helping entrepreneurs access capital efficiently. Their team specializes in guiding clients through the loan process, ensuring clarity and support at every step. Located in Warwick, Rhode Island, Shoreham Bank is committed to fostering local business development by providing flexible lending options and expert advice. Whether you’re starting a new venture or expanding an existing business, their SBA programs are designed to meet diverse needs with competitive terms and personalized assistance. The bank’s experienced staff understands the nuances of SBA loans and can help you navigate the application process smoothly, making it easier to secure funding for your business goals.

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Q&A

Lender Type
Commercial Bank
Google Rating
4
Google Review Count
557
Question 1
What is this place and what can I find here?
Answer 1
This is Shoreham Bank, a community-focused financial institution offering SBA loan programs, personal banking, and business financing solutions tailored to small businesses and local entrepreneurs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure personalized service, but walk-in consultations are also 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 5:00 PM, with extended hours by appointment upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to visit or consult; however, loan application and processing fees may apply depending on the services used.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small businesses within the Warwick area and surrounding communities, but some services are available to non-residents with qualifying 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 650 is generally preferred, though other factors are also considered during the approval process.
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 supporting documents.
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