Saugusbank is dedicated to meeting the banking needs of small and medium size businesses and property investors in our communities.  Our Commercial Vice President will work with you to find the solutions to help your business seize the opportunities to grow and prosper.  Saugusbank's lenders are local, easily accessible and easily approachable.  Give us a call.

Commercial Loans

Real Estate Mortgage Loans

As you build your real estate assets you need a strong financial lender.  We offer commercial mortgage loans for the purchase, refinance and renovation of real estate.  Financing a variety of property types to include retail, office, industrial, mixed-use and multi-family apartments with 1,3 and 5 year adjustable rate mortgages (ARM's) with 20 year terms or 1,3 and 5 year balloon loans.

Commercial Construction Loans

Whether you want to develop a subdivision, build a retail structure, develop residential housing for sale or renovate an existing property, we have a construction package to fit your needs.  We provide interest only loans for 6 months up to 2 years.  If you are building a property to rent out or for your own business and you need permanent financing, we offer one loan combined to suit both construction and permanent needs.  There is only one closing and one loan - it's structured the right way to save you a lot of money and time.

Revolving Line of Credit

Saugusbank offers secured and unsecured lines of credit for business customers.  It generally requires interest only payments with a 30 day zero balance period required annually.  Lines of credit are usually a variable interest rate tied to the Prime rate and can be automatically deducted from your Saugusbank checking account.  This is an ideal product for working capital, seasonal cash flow, to purchase inventory and to expand your business.  When you need the money, it's available to you.  When you don't, you're not paying for it.

Business Term Loan

Perfect for equipment purchases, to renovate a facility or for business expansion.  They can be secured or unsecured with convenient fixed payment schedule spread out over 1 to 5 years.

Letters of Credit

Available to existing customers on a secured basis.

Time Loans

For business customers who need financing for a short duration, with a clear repayment plan.  They are available for 30, 60 or 90 day periods to help bridge financing for a business' seasonal needs.

Contact Joanne M. Fortunato to discuss your commercial loan needs at (781) 231-3800 or (781) 799-0562 or email at joanne@saugusbank.com