Business Loans
Florence Savings Bank offers a wide range of business loans for short- and long-term financing with flexible repayment terms. Whether your business is just getting off the ground or fully established, if you're doing business in the Pioneer Valley or around Western Massachusetts, FSB has a loan solution.
When you choose Florence Savings Bank for your business banking, you'll gain access to a full range of accounts and services designed to help your business compete and grow. We'll provide you with outstanding customer service, quick turn-arounds, competitive rates, and the benefit of a bank with more than 130 years of experience in helping local businesses succeed.
Some of our most popular business loan programs are listed below. We consider loans from $10,000 to $10,000,000 with all decisions made locally. Contact us to set up a private consultation to best address your specific needs.
Term Loan
Whether you're buying equipment, looking for working capital, or restructuring your company's debt, a business term loan may be the answer. Florence Savings Bank offers a choice of terms and rate options. Contact us to discuss the loan that best meets your needs.
Line of Credit
With a business line of credit, you'll get access to a revolving line of credit that is available whenever you need it. You can access the money your business needs with just a phone call.
- Available for short-term cash needs
- Revolving line of credit
- Renewable annually
- Interest-only monthly payment
Letter of Credit
When your business needs to guarantee a payment to a vendor, supplier, auctioneer, or you need a performance guarantee, apply for a letter of credit.
- Valid for up to one year from date of authorization
Construction Mortgage
If you are constructing a new building for your business or adding on to an existing one, a Commercial Construction Mortgage will give you the flexibility you need to complete your project. During the construction phase, you draw the funds only as you need them and pay interest only on the outstanding balance during the construction phase.
- Available for custom or "spec" building projects
- Interest-only payments during the construction phase
- Option to convert to a permanent mortgage
Contact us to learn more.
Commercial Mortgage
If you are planning to purchase or refinance a commercial property (including investment properties), consider a commercial mortgage from Florence Savings Bank. We are commercial property experts for all of Western Massachusetts.
- Competitive rates
- Terms up to 20 years
- Fixed or variable interest rates
- Loan-to-value ratio up to 80%
- Tax exempt bond pricing available
Contact us to learn more.
Small Business Administration (SBA) Guaranteed Loans
Florence Savings Bank was the first bank in Western Massachusetts to receive SBA Preferred Lending Status and Express Status. As a result, we are able to offer small businesses quick turnaround in the approval process of most SBA loans.
SBA Low Doc Program offers a streamlined loan application for loans of $150,000 or less. SBA 504 loan provides long-term, fixed rate financing for small businesses. Please visit www.sba.gov for detailed information on other financing options.
FSB participates in all SBA programs including 7(A), Express and 504. We offer special considerations for women, minorities and veterans. Contact us to learn more.
Other Loans
In keeping with FSB's commitment to small business lending in the Tri-County area, we offer a wide variety of loans to help small businesses obtain loans to start up, expand, or continue operating profitably.
Contact us to set up a meeting with one of our lending professionals for any of our business loan options.
