Passumpsic Savings Bank

This is a community-focused bank offering SBA lending services to small businesses. You can find assistance with financing options like SBA 7(a) loans, guidance throughout the application process, and personalized banking support tailored to local entrepreneurs.

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

The bank operates from 9:00 AM to 4:30 PM, Monday through Friday. Hours may vary on holidays, so it's best to contact the branch directly for specific scheduling.

There are no fees for simply visiting or consulting with the bank, but loan processing and application fees may apply depending on the financing arrangement. These fees are disclosed upfront before any agreement is made.

This bank primarily serves local residents and small business owners within the community. However, eligibility for specific SBA programs may extend beyond local residents depending on the business and loan criteria.

A minimum personal credit score of 640 or higher is generally preferred, though the exact requirement may vary based on the loan size and overall application strength.

The typical underwriting process takes approximately 30 to 45 days, depending on the completeness of your application and the complexity of the loan request.

Most banks keep weekday business hours and are closed on weekends, and Passumpsic 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 Passumpsic Savings Bank to confirm current weekend availability before you go.

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

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

You can reach Passumpsic Savings Bank by phone at (800) 370-3196 or online at passumpsicbank.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 Passumpsic Savings Bank before relying on them.

Based on its approved SBA loans, Passumpsic Savings Bank most often finances businesses in general retail, restaurants & food service, manufacturing, construction & contractors, transportation & trucking, and cleaning, landscaping & janitorial. This reflects Passumpsic 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 Passumpsic 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 Passumpsic Savings Bank participates in SBA Express depends on its specific SBA lending authority. Contact Passumpsic Savings Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

Passumpsic Savings Bank is an SBA Preferred Lender, which means it can approve SBA loans in-house without sending each to the SBA first, typically resulting in faster lending decisions. Confirm current PLP status directly with the bank.

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. Passumpsic Savings Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Passumpsic 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 Passumpsic 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 Passumpsic 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 Passumpsic 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. Passumpsic Savings Bank weighs this case by case under its own policy, so be upfront about your history and ask Passumpsic Savings Bank how it evaluates prior bankruptcies.