Commercial

Commercial Loan Products

We're Available When You Are
Our Commercial staff is dedicated to your business and will arrange meetings with you after hours, in the evening, or on Saturdays when necessary. For your convenience we will meet at our office, your office, or at one of our branches.

Call 508.765.9103 or toll-free 800.939.9103 today and ask
for a Commercial Services Department specialist.

Business Maker™ Line of Credit

We offer a line of credit up to $50,000 with a quick and easy application process and approval available in as little as 24 hours. This is a general purpose line of credit that can be used for what you need. The line of credit is managed by the customer through Southbridge Savings Bank's online Business Bank N' PaySM

Line of Credit

Lines of Credit provide a source of funds for businesses that are repaid as sales are generated and receivables collected. Your line of credit is valid for a specific amount and is reviewed annually based on updated financial information which you provide. Interest-only payments are required during the term of the line, allowing you to choose when to repay the principal. Once the principal is repaid, it may be re-borrowed. To receive funds from your line, simply fax your request to us, and your account will be credited with the specified amount.

Commercial Real Estate Loans

Our commercial real estate loans are designed to meet your needs for the purchase, refinance or construction of commercial properties and non-owner occupied residential buildings. The term on commercial mortgages can be extended to twenty years with a choice of multiple rate options. Funds may be extended to 75% of the value based on an appraisal.

Commercial Construction Loans

Southbridge Savings Bank offers construction loans for all types of commercial and residential housing projects, including rehabilitations. We even have a program to help you with land financing. We can offer a construction loan with interest only for a short term period, and then roll it into a permanent mortgage for up to 20 years. Construction loans are typically for a term of up to 3 years with advances being made in periodic intervals as work progresses.

Term Loans

Our term loans can provide the funds you need for working capital, debt consolidation, or the purchase of fixed assets. Terms can be one, three or five years notes and amortized up to 10 years.

SBA Loans

Southbridge Savings Bank can help you acquire a credit enhancement through the Small Business Administration. SBA guarantees a portion of your loan and funds can be used for a wide variety of business purposes. Our experience and in-depth knowledge of SBA policies and procedures allow us to process your loan application in about the same time as most bank loans.

Other Secured Loans

In addition to standard lending options, Southbridge Savings Bank offers loans that are secured by stocks, bonds, savings accounts and life insurance. These loans may be issued for any legal purpose and offer competitive rates with terms that may extend to five years.

Letters of Credit

These important financial tools help ensure swift and efficient processing of a purchase or sale. Import and Export Letters of Credit authorize drafts up to a certain amount according to specified terms. These are available as Stand-By or Documentary Letters of Credit.