Business Banking

Small Business Administration (SBA) Lending Programs

BankFive is a preferred lender with the Small Business Administration (SBA), allowing for expedited processing and approval of loan requests. BankFive is proud to partner with the SBA on small business loans in Massachusetts and Rhode Island. Through the SBA, we are able to offer business owners many different types of loan programs to fit every need.

Why choose BankFive for a SBA loan?

We were once again recognized by the SBA last year as a top lender in Massachusetts, and have been recognized as the best manufacturing lender in Massachusetts for 2013, the best Export Lender in Massachusetts in 2012, the best Lender to Minorities in Massachusetts in 2004, 2007, 2009, 2011, and 2012, and the best Lender to Women Owned Businesses in Massachusetts in 2005. 

Year SBA Award
2013 #1 Manufacturing Lender
2012 #1 Export Lender
2012 #1 Lender to Minorities
2011 #1 Lender to Minorities
2009 #1 Lender to Minorities
2007 #1 Lender to Minorities
2005 #1 Lender to Women
2004 #1 Lender to Minorities

 

Call 1-800-679-4420 to schedule an appointment

  


SBA Loan Programs

The SBA guaranteed loan programs allow BankFive to provide financing with flexible payment options and longer terms than traditional loans.

BankFive offers the following SBA-guaranteed small business loan programs:

  • SBA Express

SBA Express is a 50% guarantee small business loan program from the U.S. Small Business Administration for loans from $5,000 to $350,000*. It is ideal for businesses that may not meet traditional lending requirements. Flexible payment options and longer terms than traditional loans can be provided under SBA Express. Funds may be used for working capital, equipment, inventory, expansion, or real estate purchases.

  • 504 Loan Program

The 504 loan program provides growing small businesses with long-term financing to acquire, construct, or expand their business location or purchase machinery and equipment. The 504 program allows a borrower to contribute as little as 10% in equity*. These small business loans usually have preferential long-term interest rates.

  • Traditional 7(a)

The 7(a) Loan Program offers financial help for businesses with special requirements1. Proceeds may be used to establish a new business or to assist in acquisition, operation, or expansion of an existing business. 7(a) loans have a maximum loan amount of $5,000,000* and do not have a set minimum loan amount.

 

Call 1-800-679-4420 to schedule an appointment

For more information on the SBA and various loan programs available, click here. 

 

*Upon Qualification

1Please contact one of our Commercial Specialists for information regarding special requirements.