The Bank of Canton

This is a bank that offers SBA loan programs to small businesses, providing financing options for various business needs. You can find assistance with SBA 7(a) loans, real estate, equipment, and working capital financing tailored to small business owners in the Canton area.

It's recommended to schedule an appointment to meet with a lending specialist, but walk-ins are also welcome during business hours. Calling ahead can ensure dedicated time with a loan officer to discuss your needs.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It's advisable to confirm hours before visiting, especially during holidays or special circumstances.

There are no fees for simply visiting the bank; however, loan applications and processing may involve standard SBA and bank fees, which will be disclosed during the application process.

This bank primarily serves small business owners in the Canton area and surrounding regions. While it focuses on local businesses, eligibility depends on meeting the SBA and bank lending criteria.

Typically, a minimum personal credit score of 620 is preferred, though higher scores improve approval chances and loan terms.

The underwriting process generally takes between 2 to 4 weeks, depending on the completeness of your application and the complexity of the loan request.

Most banks keep weekday business hours and are closed on weekends, and The Bank of Canton 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 The Bank of Canton to confirm current weekend availability before you go.

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

The core details for The Bank of Canton — 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 The Bank of Canton before applying. If you represent The Bank of Canton, claim this listing to keep its information up to date.

You can reach The Bank of Canton by phone at (781) 828-1690 or online at thebankofcanton.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with The Bank of Canton before relying on them.

Based on its approved SBA loans, The Bank of Canton most often finances businesses in construction & contractors and food manufacturing & processing. This reflects The Bank of Canton'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 The Bank of Canton 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 The Bank of Canton participates in SBA Express depends on its specific SBA lending authority. Contact The Bank of Canton 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. The Bank of Canton 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. The Bank of Canton's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask The Bank of Canton 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 The Bank of Canton 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 The Bank of Canton 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 The Bank of Canton 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. The Bank of Canton weighs this case by case under its own policy, so be upfront about your history and ask The Bank of Canton how it evaluates prior bankruptcies.