Meredith Village Savings Bank
At a Glance
A mutual the SBA's own awards crowned for volume, whose pages give the program a share of one bullet and name buying a business only for practices; a New Hampshire buyer's second desk by count, on the SBA's word more than the bank's.
- Pricing
- Custom Pricing, Loan products. No size, rate or fee is published for the SBA loan. Its own small-loan product runs from $10,000 to $100,000 with a fixed rate on the term loan, and its practice lending offers up to one hundred percent financing with ten-year equipment terms. Its news restates the program's ceiling.
- Best For
- A buyer of a practice or a small business in New Hampshire who wants the bank the federal loan file puts second in New Hampshire by 7(a) count, and will meet a lender rather than fill in a form.
- Track Record
- A Meredith, New Hampshire mutual with fifteen offices, named an SBA lender of the year and a leading rural lender by its own awards page, stating no program status of its own.
- Type
- Bank (lends directly)
- Footprint
- Fifteen offices in fourteen New Hampshire communities by its history page, from Meredith, New Hampshire; its own small-loan product is for New Hampshire-registered businesses by its lending page, and adds York County, Maine on its own page. It lends beyond the states it names, so one it does not name is worth asking about rather than ruling out.
- Approval Authority
- Claims no Preferred Lender status on its own pages, so plan on the agency reading the file after the bank does.
- No page states a Preferred Lender, Express or 504 status; the SBA sits inside the last of five bullets on its lending page, beside the Business Finance Authority, and its awards and news pages carry the SBA's lender-of-the-year awards.
- Deal Size
- $500k to $5M.
- Publishes no floor. Most of this shelf gives a ceiling that is really the agency's own cap, and no minimum at all.
- No amount at either end for the SBA loan; its lending page says loans of all sizes and its own small-loan product runs from $10,000 to $100,000.
- Searcher Practice
- A general SBA lending desk, branch-driven.
- An online application with a decision in minutes for its own small-loan product, to which an SBA guarantee may attach by that page; the SBA loan otherwise starts with a downloaded application and a lender who will come to the borrower.
- No page names a search fund or a searcher; its practice lending page names the purchase of a practice and a partner buy-in or buy-out, and its general lending page names no acquisition at all.
- Practice Lending
- A practice lending program that names buying a practice.
- Its medical professional practice page offers medical and dental practices up to 100% financing for the purchase of a practice or the buy-in or buy-out of a partner, and up to a ten-year term on equipment.
- Published Terms
- No size, rate or fee for the SBA loan; its own small-loan product from $10,000 to $100,000, and practice lending to one hundred percent with ten-year equipment terms.
- Roadmap Stages
- 5. Diligence & Close the Deal
Pros and Cons
Pros
- The SBA named it a lender of the year for the number and dollar amount of its 7(a) loans, and a leading rural lender the next year, by its own awards and news pages
- Its practice lending page names the purchase of a practice first and a partner buy-in or buy-out second, with up to one hundred percent financing
- Twelve on its business team with a title and an office phone each, and a promise to come to the borrower
- An online application with a decision in minutes for its own small-loan product
Cons
- States no program status: no page calls it a Preferred Lender or names Express or a 504 partner
- The SBA shares the last of five bullets on its lending page, and buying a business is named only for medical and professional practices
- No size, rate or fee for the SBA loan, and the online application is for its own small-loan product
- Its team page and its news give one senior lender three different titles
What Searchers Say
Read on its lending page, its small-loan and practice lending pages, its CareWork childcare lending page, its business team, checklist, locations, history, leadership, awards, apply, contact and news pages and two news posts. No searcher-forum discussion of the desk was found.
How to Approach
Meredith Village Savings Bank is a bank, so this is how that kind of lender comes in, what it weighs, and how to arrive ready.
The Typical Arc
- A prequalification on you and the target, often from the first email.
- A full application and the bank's own underwrite of the deal.
- A term sheet, then closing on the SBA's timeline, commonly two to four months.
What It Weighs
- Whether the business's cash flow covers the debt with room to spare.
- Your experience relative to the business you are buying.
- Your equity injection and how clean the financials are.
How to Prepare
- Model the payment and coverage before you call. SBA Acquisition Calculator
- Underwrite the specific deal end to end. Underwrite a Deal
- Show where every dollar comes from and goes. Sources & Uses Builder