Thomaston Savings Bank

This is a local bank offering SBA loan programs and financial services tailored to small businesses, providing expert guidance and personalized support for your funding needs.

It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may also be accommodated depending on availability.

Thomaston Savings Bank's Main Street branch operates Monday–Wednesday 8:30 am–4:00 pm, Thursday 8:30 am–6:00 pm, and Friday 8:30 am–5:00 pm. Please confirm current hours with the branch.

There are no fees for initial consultations; however, standard loan application and processing fees may apply depending on the services used.

This bank primarily serves local residents and small business owners in the Thomaston area, but may also work with clients from surrounding regions.

A minimum personal credit score of 640 is generally preferred, but approval depends on the overall financial profile and collateral.

The underwriting process typically takes 2 to 4 weeks, depending on the completeness of the application and the complexity of the loan.

Thomaston Savings Bank's Main Street branch is open Saturday 8:30 am–12:00 pm and closed Sundays. Please confirm with the bank regarding SBA lending staff availability on weekend hours.

Thomaston Savings Bank is located in Connecticut — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Thomaston Savings Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Thomaston Savings Bank itself, which runs its own lending under its own ownership. If you work at Thomaston Savings Bank, you can claim this listing from this page to manage it.

The core details for Thomaston Savings Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Thomaston Savings Bank before applying. If you represent Thomaston Savings Bank, claim this listing to keep its information up to date.

You can reach Thomaston Savings Bank by phone at (860) 283-1874 or online at thomastonsavingsbank.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Thomaston Savings Bank before relying on them.

Based on its approved SBA loans, Thomaston Savings Bank most often finances businesses in construction & contractors, general retail, manufacturing, food manufacturing & processing, automotive repair & services, and restaurants & food service. This reflects Thomaston Savings Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Thomaston Savings Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Thomaston Savings Bank participates in SBA Express depends on its specific SBA lending authority. Contact Thomaston Savings Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Thomaston Savings Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Thomaston Savings Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Thomaston Savings Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Thomaston Savings Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Thomaston Savings Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Thomaston Savings Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Thomaston Savings Bank weighs this case by case under its own policy, so be upfront about your history and ask Thomaston Savings Bank how it evaluates prior bankruptcies.