Go Back

University Credit Union

Offering a range of financial services tailored to meet the needs of small businesses and members, this institution provides comprehensive SBA lending options, including the popular 7(a) program. With a focus on supporting local entrepreneurs, it facilitates access to capital for startups and established businesses alike. The bank’s experienced team guides clients through the application process, ensuring clarity and support at every step. Whether you’re seeking a small loan or a larger financing solution, this lender aims to deliver personalized service and competitive terms. Their expertise in SBA loans helps streamline approval processes, making it easier for small business owners to secure the funding they need to grow and succeed. Located in Orono, Maine, they serve the local community while also supporting regional economic development efforts. The institution’s commitment to customer service and community involvement makes it a trusted partner for your business financing needs.

Review

There are no reviews yet.

Lender Type

Commercial Bank

Google Rating

3.5

Google Review Count

Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution offering SBA loan services, including the 7(a) program, to small businesses and community members in Orono, Maine. You can find assistance with business financing, guidance through loan applications, and personalized support for your funding needs.

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 specialist, but walk-in visits may be accommodated depending on availability. Calling ahead can help streamline your visit and prepare necessary documentation.

Question 3

What are the hours of operation?

Answer 3

Typically, the bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It"s advisable to confirm hours directly with the branch before visiting, especially for appointments or specific services.

Question 4

Is there a fee to use this?

Answer 4

There may be application fees and other charges associated with loan processing and servicing. Specific fee details are provided during the loan application process and depend on the loan terms.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This institution primarily serves members of the community and small business owners in the Orono area. Membership or residency may be required for certain services, particularly those related to SBA loans.

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, but creditworthiness is assessed on a case-by-case basis considering overall financial health.

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 loan and completeness of submitted documentation.

University Credit Union

Description

Location

Review

Q&A