Massachusetts Banking Partners
Lender Name: Bank Five
Contact Name: Joan Medeiros, Vice President
Contact e-mail: joan.medeiros@bankfive.com
Contact phone/fax: 774-888-6133
Address: 79 North Main Street
City: Fall River
State: MA
Zip: 02720
Geographic Service Area: Southeastern Massachusetts, primarily concentrating on Fall River, New Bedford and the surrounding communities.
Name of Small Business Product: Five by 5 Loan Program
Description of Product:
Loans from $5,000 to $100,000 are considered under this program. This includes lines of credit, term loans and mortgage loans. It is expected that borrowers will maintain their business checking account at Bank Five for the term of the loan. SBA Express guarantees may be required. The Bank will waive $100 on closing costs and reduce the interest rate by 25 basis points on any loan under this program.
Technical Assistance Partners:
Bank Five will work with not for profit intermediaries to assist small business owners through the financing process from application to closing. This may include community development corporations, other non profit training and counseling organizations and government agencies or departments that support neighborhood and economic development.