Massachusetts Banking Partners
Lender Name: Northmark Bank
Contact Name: Steven G. Stewart, Loan Officer
Contact e-mail: rvachon@northmarkbank.com
Contact phone/fax: (978) 686-9100/Fax (978) 686-5779
Address: 89 Turnpike Street
City: North Andover
State: MA
Zip: 01845
Geographic Service Area: Merrimack Valley and Greater Winchester/Woburn areas
Name of Small Business Product: Massachusetts Banking Partners Small Business Loan Program
Description of Product:
- Eligible businesses for the program include those businesses that are located in low- and moderate-income census tracts, create low- and moderate-income jobs, or are located in government targeted economic development areas.
- There are no minimum loan amount requirements with this loan product.
- Interest rates on this small business loan product are at a below-market rate of Northmark Bank’s Base Lending Rate +.50%. The Borrower will be required to have their monthly payments directly charged from an account at the Bank to receive the special rate.
- The term of the loan will be determined by the type of loan requested.
- The Borrower will be responsible for paying all of the Bank’s third party costs that may be applicable to the loan request, including legal fees, UCC search and filing fees, flood search fees or any SBA fees.
Technical Assistance Partners:
Northmark Bank will work with not-for-profit intermediaries to assist small business owners through the financing process from loan application through closing. Community partner intermediaries may include community development corporations, other nonprofit training and counseling organizations, and government agencies or departments that support neighborhood and economic development.