Liberty Bank Business FAQs

Business owners deserve answers.

Q: How do I contact a Liberty banker to discuss a Business loan request?

A: Directly contact one of our Business Bankers or stop into your local branch to discuss your needs. Our Business loan applications are quick and easy to fill out.

Q: How long does it take to get my loan approved?

A: We strive for 24-48 hour turnaround time, though every business loan request is different.  Sometimes we need additional clarification or additional information in order for us to make the best decision possible.

Q: If my request is approved, how soon can I expect to close and have access to funds?

A: We can typically close within a day or two, conveniently at your local branch.

Q: I’m thinking of starting a new business. Will Liberty finance a start-up?

A: Financing start-ups is difficult under the best of circumstances, and the current economic climate makes starting a business an even tougher proposition. At Liberty Bank, we work hard to make decisions to benefit the customer and the bank. We can guide you to resources including the Middlesex Chamber of Commerce and the U.S. Small Business Administration to help you evaluate your likelihood of success and to help you build a business plan. We also can refer you to other reputable lenders with whom we regularly work who may be better able to provide you with funding at an early stage until a more traditional banking relationship is more practical.

Q: My small business is growing and profitable. Can Liberty continue to meet my credit needs as I grow?

A: Liberty finances profitable, successful businesses of all sizes and types and can lend well into the eight figure range on its own. We are always excited by the growth of our business customers and have had a number of relationships which started with credit needs well below $100,000 and have grown to the point of needing different types of loans totaling in excess of $1,000,000. We’re happy to assist and be a part of that success.

Q: My personal credit is not strong. Can Liberty still help me with my small business lending needs?

A: Personal credit plays a role in any lending decision made by a prudent lender. Over the years Liberty Bank, in its position as a strong community-minded bank, has counseled thousands of customers on personal credit issues. We know that everyone has unexpected occurrences in their lives which can hurt their personal credit history. We also know that problem credit issues can be repaired over time. We also may be able to refer a borrower to other lenders who offer products suited to differing credit profiles.

Q: What is the interest rate on a Liberty Bank small business loan?

A: Unlike consumer loan products, interest rates on business loans vary by the nature of the business, the loan request, and the risk in the transaction. Liberty Bank’s rates are very competitive and, when coupled with our Small Business deposit products, give the business customer an attractive suite of products and services in a strong community bank environment.

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