Florence Bank

This is Florence Bank, where you can find a range of banking services including SBA loan programs, business financing, and personalized financial support tailored to small businesses in the Florence area.

It is recommended to schedule an appointment for SBA loan consultations, but walk-ins are also welcome during regular banking hours.

The bank operates Monday through Friday from 9:00 AM to 4:00 PM, with additional hours available by appointment.

There are no fees for initial consultations; applicable loan fees are discussed during the application process.

This service is open to small business owners and entrepreneurs in the Florence area seeking SBA financing and banking support.

Typically, a minimum personal credit score of 640 is preferred, but this can vary based on the loan specifics and overall financial profile.

The underwriting process generally takes approximately 30 to 45 days, depending on the completeness of the application and supporting documents.

Most banks keep weekday business hours and are closed on weekends, and Florence Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Florence Bank to confirm current weekend availability before you go.

Florence Bank is located in Massachusetts — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Florence Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Florence Bank itself, which runs its own lending under its own ownership. If you work at Florence Bank, you can claim this listing from this page to manage it.

The core details for Florence Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Florence Bank before applying. If you represent Florence Bank, claim this listing to keep its information up to date.

You can reach Florence Bank by phone at (413) 586-1300, via their contact form at florencebank.com/contact-us, or online at florencebank.com — confirm specific SBA loan contact details directly with the bank.

Based on its approved SBA loans, Florence Bank most often finances businesses in construction & contractors, manufacturing, general retail, restaurants & food service, medical practices & clinics, and food manufacturing & processing. This reflects Florence Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Florence Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Florence Bank participates in SBA Express depends on its specific SBA lending authority. Contact Florence Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Florence Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Florence Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Florence Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Florence Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Florence Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Florence Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Florence Bank weighs this case by case under its own policy, so be upfront about your history and ask Florence Bank how it evaluates prior bankruptcies.