Union Bank

This is a bank that offers SBA loan programs, including the 7(a) loan, to support small business growth and development. You can find assistance with loan applications, personalized financial guidance, and access to funding options tailored to your business needs.

Ask Union Bank directly — some branches take walk-ins, others book SBA conversations by appointment.

Hours vary by branch and change. Check Union Bank's website or call before you visit.

Browsing this directory is free. Any loan fees are set by Union Bank and the SBA program — ask the lender for its current schedule.

This bank primarily serves small business owners and entrepreneurs in Vermont, though some services may be available to out-of-state clients based on eligibility.

Many SBA lenders look for a personal score around 640 or higher, but each bank sets its own bar and it changes. Ask Union Bank what it looks for today.

The underwriting process typically takes 30 to 45 days, depending on the completeness of application documentation and loan complexity.

Most bank SBA teams work weekdays; confirm with Union Bank before planning a weekend visit.

Union Bank's Morrisville Main branch is located at 20 Lower Main Street, Route 100, Morrisville, VT 05661. It offers free drive-through access with two lanes, wheelchair-accessible facilities, a drive-up ATM accessible on foot, and a lowered teller station. Please confirm parking details by calling (802) 888-6600.

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

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

You can reach Union Bank by phone at (802) 888-6600 or online at www.ublocal.com/branch-locations/morrisville-main — the same details are in the contact card on this page.

Based on its approved SBA loans, Union Bank most often finances businesses in restaurants & food service, construction & contractors, general retail, hotels & lodging, automotive repair & services, and food manufacturing & processing. This reflects Union 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 Union 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 Union Bank participates in SBA Express depends on its specific SBA lending authority. Contact Union Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

Whether Union Bank has SBA Preferred Lender (PLP) status is set by the SBA. Ask the bank directly; PLP lenders can approve in-house and often move faster.

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