Torrington Savings Bank
Torrington Savings Bank is an active SBA lender in Connecticut, a bank offering SBA-guaranteed small-business loans. Currently rated 4.2 stars across 13 Google reviews.
$10M
in SBA approvals since 2015
41
SBA loans funded
Hotels & Lodging · Construction & Contractors · General Retail
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Torrington Savings Bank
Torrington Savings Bank offers comprehensive SBA lending options 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, which are ideal for a variety of business purposes including working capital, equipment purchase, and real estate acquisition. The bank’s experienced lending team works closely with clients to understand their unique needs and guide them through the application process, ensuring a smooth experience from start to finish. Located in Torrington, Connecticut, this community-oriented bank prides itself on building strong relationships with local businesses and entrepreneurs. Whether you're a startup or an established enterprise, Torrington Savings Bank aims to support your business goals with flexible financing solutions and dedicated customer service. The bank’s commitment to small business success is reflected in its tailored loan programs, competitive rates, and knowledgeable staff ready to assist at every step.
Industries Torrington Savings Bank finances
Business types Torrington Savings Bank actively lends to, from its SBA loan history. Tap one to see every lender serving it.
Common questions about Torrington Savings Bank
What is this place and what can I find here?
This is a community-focused bank offering SBA loan programs and personalized banking services to support small business growth and success in Torrington and surrounding areas.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated service, but walk-ins are also welcome during business hours.
What are the hours of operation?
Torrington Savings Bank operates 9:00 AM to 5:00 PM daily, Monday through Sunday. Please confirm with your local branch as hours may vary by location.
Is there a fee to use this?
There are standard fees associated with SBA loans and banking services, which vary depending on the specific product and transaction.
Who is this open to — anyone, or only residents/members?
This bank primarily serves residents and small businesses within the Torrington area and surrounding communities.
What minimum personal credit score does this bank look for in a guarantor?
Typically, a minimum personal credit score of 650 is preferred, but other factors are also considered during underwriting.
How long does the traditional underwriting process take from start to close?
The underwriting process generally takes between 30 to 45 days, depending on the complexity of the loan and completeness of the application.
Is this open on weekends?
Yes, Torrington Savings Bank is open on weekends from 9:00 AM to 5:00 PM on Saturday and Sunday. Confirm hours with your specific location branch.
How do I get there and where do I park?
Torrington Savings Bank's main office is at 129 Main Street, Torrington, CT 06790, with 7 additional branches throughout Connecticut. Specific parking information is not detailed online — contact your local branch.
Who owns or operates this listing?
This page is an independent directory listing for Torrington Savings Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Torrington Savings Bank itself, which runs its own lending under its own ownership. If you work at Torrington Savings Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Torrington 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 Torrington Savings Bank before applying. If you represent Torrington Savings Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
Call (860) 482-5421 or use the online contact form at https://www.torringtonsavings.bank/customer-support/ to reach Torrington Savings Bank directly. Confirm current contact methods with the bank.
What core industries does this commercial bank traditionally choose to finance?
Based on its approved SBA loans, Torrington Savings Bank most often finances businesses in construction & contractors. This reflects Torrington 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 Torrington Savings Bank which sectors it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Torrington Savings Bank participates in SBA Express depends on its specific SBA lending authority. Contact Torrington Savings Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
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. Torrington Savings Bank can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
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. Torrington Savings Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Torrington Savings Bank directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
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 Torrington Savings Bank what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
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 Torrington Savings Bank to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
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 Torrington Savings Bank to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
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. Torrington Savings Bank weighs this case by case under its own policy, so be upfront about your history and ask Torrington Savings Bank how it evaluates prior bankruptcies.
