Franklin Savings Bank

This is Franklin Savings Bank, where you can find a variety of SBA loan options and financial services tailored for small businesses in Maine. They provide expert guidance to help entrepreneurs access the capital they need for growth and expansion.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also welcome during business hours. Calling ahead can help streamline your visit.

Franklin Savings Bank operates Monday-Wednesday 9:00 AM to 3:00 PM and Thursday-Friday 9:00 AM to 5:00 PM. Contact the bank to confirm availability or schedule an appointment.

There are no fees for simply consulting with their staff; however, loan application fees and other charges may apply depending on the specific financing product.

Services are primarily available to small business owners within the region, but eligibility depends on meeting specific loan criteria and credit requirements.

A minimum personal credit score of around 640 is generally preferred, but final decisions depend on the overall financial profile and business viability.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.

Most banks keep weekday business hours and are closed on weekends, and Franklin Savings Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Franklin Savings Bank to confirm current weekend availability before you go.

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

The core details for Franklin 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 Franklin Savings Bank before applying. If you represent Franklin Savings Bank, claim this listing to keep its information up to date.

You can reach Franklin Savings Bank by phone at (207) 778-3339, toll-free at 800-287-0752, or via their contact form at https://www.franklinsavings.bank/contact/. For business lending inquiries, email BusinessSolutions@FranklinSavings.com.

Based on its approved SBA loans, Franklin Savings Bank most often finances businesses in transportation & trucking, general retail, hotels & lodging, automotive repair & services, construction & contractors, and restaurants & food service. This reflects Franklin 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 Franklin 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 Franklin Savings Bank participates in SBA Express depends on its specific SBA lending authority. Contact Franklin 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. Franklin 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. Franklin Savings Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Franklin 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 Franklin 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 Franklin 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 Franklin 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. Franklin Savings Bank weighs this case by case under its own policy, so be upfront about your history and ask Franklin Savings Bank how it evaluates prior bankruptcies.