Salem Five Cents Savings Bank
MA
SBA-approved lender offering 7 loan programs across 29 industries.
Key Metrics
Interest Rate
8.37%
1.62% over prime
Average Loan
$188K
Per approval
Total Approvals
75
FY 2025
Loan Programs (7)
7a General
Change of Ownership
Existing or more than 2 years old
Fixed Rates
Loan Funds will Open Business
New Business or 2 years or less
Preferred Lenders Program
Industries Served (29)
Advertising AgenciesAll Other Miscellaneous Food ManufacturingAll Other Outpatient Care CentersAll Other Specialty Trade ContractorsChild Day Care ServicesElectroplating, Plating, Polishing, Anodizing, and ColoringEngineering ServicesFinish Carpentry ContractorsFitness and Recreational Sports CentersGeneral Automotive RepairHome Health Care ServicesInsurance Agencies and BrokeragesLandscaping ServicesMasonry ContractorsMotor Vehicle Supplies and New Parts Merchant WholesalersNew Single-Family Housing Construction (except Operative Builders)Offices of ChiropractorsOffices of DentistsOffices of LawyersOffices of Mental Health Practitioners (except Physicians)Other Commercial and Industrial Machinery and Equipment Rental and LeaOther Measuring and Controlling Device ManufacturingPainting and Wall Covering ContractorsPlumbing, Heating, and Air-Conditioning ContractorsPower and Communication Line and Related Structures ConstructionResidential RemodelersSecurity Guards and Patrol ServicesSnack and Nonalcoholic Beverage BarsUsed Car Dealers
Additional Details
- Prime Rate
- 6.75%
- Rate Over Prime
- 1.62%
- Effective Rate
- 8.37%
- Fiscal Year
- 2025
- States Served
- MA
- Website
- www.salemfive.com
Ready to apply with Salem Five Cents Savings Bank?
Let Cassian help you prepare your application and connect you with the right loan officer.