Charles River Bank

This is a local bank offering SBA loan programs and small business financing solutions. You can find personalized support for your business needs, including guidance through the application process and access to various loan options to help your business grow.

You can walk in during business hours, but it is recommended to schedule an appointment to ensure dedicated time with a lending specialist and a smoother process.

The bank is typically open from 9:00 AM to 4:00 PM, Monday through Friday. It is advisable to call ahead or schedule an appointment for specific services or consultations.

There are no fees to visit the bank or inquire about services, but loan applications and processing may involve fees such as guarantee fees, closing costs, or service charges disclosed during the application process.

This bank primarily serves local residents and small business owners in the Medway area, but they also offer services to non-residents depending on eligibility and loan requirements.

A minimum personal credit score of 640 is generally recommended, but approval depends on the overall financial profile and business viability.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of submitted documentation.

Charles River Bank operates regular business hours Monday through Friday, with ATMs and 24-hour banking services available on weekends; confirm current weekend hours with the bank.

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

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

You can reach Charles River Bank at (508) 533-8661, online at charlesriverbank.com, or via their contact form at charlesriverbank.com/contact-form/ — confirm current contact options with the bank.

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