Business Banking
Commercial Loans Massachusetts
- Commercial Mortgages
- Construction Loans
- Equipment Loans
- Lines of Credits
Five by 5 Business Loans*
*Our Five by 5 is the simple small business loan.
- Minimal Documentation
- Quick Decision (Decision next business day in many cases)
- Simple Closing (at any branch office)
- Loans subject to restricted amounts.
Contact us today to turn your dream into a reality. Click Here for our Commercial Specialists to discuss your commercial loan options.
Massachusetts Treasurer's Small Business Banking Loan Partnership
BankFive now offers the MA Treasurer’s Small Business Banking Loan Partnership aimed at promoting small business lending throughout Massachusetts at an attractive low rate of 2.99%*. The purpose is to create jobs and revitalize low- to moderate-income tracts throughout the community. This program is being coordinated through the Treasurer’s Office of the Commonwealth of Massachusetts.
Purposes:
- Expansion
- New construction
- Equipment
- Capital improvements
- Any other business needs
Qualifications:
- Annual sales of less than $5 million
- Loan amounts under $500,000
*Based on qualifications.
Small Business Administration
BankFive is proud to partner with the Small Business Administration (SBA) on small business loans in Massachusetts.We were once again recognized by the SBA as Massachusetts #1 lender to minority owned businesses in 2011.
SBA Loan Programs
The SBA loan guaranteed programs allow BankFive to provide financing when collateral may not meet conventional lending standards. Flexible payment options and longer terms than traditional loans can be provided under the SBA program. BankFive is a preferred lender with the SBA, allowing for expedited processing and approval of loan requests.
Program limits:
• Traditional 7(a): commitments up to $5,000,000
• SBAExpress: commitments up to $350,000
• Patriot Express: commitments up to $500,000
• Lender Advantage: commitments up to $250,000
BankFive offers the following SBA guaranteed small business loan programs.
SBA Express
SBA Express is a 50% guarantee small business loan program from the US 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.
Patriot Express
The Patriot Express program is available to veterans, members of the military community and their spouses. Under this program, the Small Business Administration will provide an 85% guarantee for loans up to $150,000 and a 75% guarantee for loans from $150,001 to $500,000.
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.
