Equipment Financing

¹Applies to loan amounts under $100,000. Minimum credit score of 650 required. Loans must be repaid through a qualified SBSI deposit account using Automatic Funds Transfer. New equipment purchases require a loan-to-value (LTV) ratio of 90% or better. Used equipment purchases require an LTV of 80% or better. Three-day turnaround begins with the receipt of a completed application. An application is considered complete when the Bank has received: tax return representing a full calendar/fiscal year of operations; personal financial statement; appropriate disclosures; corporate documents (may vary depending on applicant). Three-day turnaround excludes non-business days and holidays.  If Saco & Biddeford Savings is unable to meet the three-day turnaround guarantee, applicant will be eligible to receive a credit of $150 at time of closing.