Reading Co-Operative Bank

This is a local bank that offers SBA loan programs and small business banking services designed to support entrepreneurs and business owners in securing financing for growth and development.

It's recommended to schedule an appointment for personalized service, but walk-ins are also welcome during business hours for general inquiries and assistance.

The bank is typically open from 9:00 AM to 5:00 PM, Monday through Friday. It's best to call ahead to confirm hours or schedule an appointment.

There are no fees to visit the bank; however, certain banking services and loan applications may involve fees, which will be disclosed during the process.

The bank primarily serves small business owners and entrepreneurs in the local community, but anyone interested in banking services can inquire about account options and loan programs.

A minimum personal credit score of around 650 is generally preferred, but approval depends on the overall financial profile and business performance.

The underwriting process typically takes 30 to 60 days, depending on the complexity of the loan and completeness of the application materials.

Most banks keep weekday business hours and are closed on weekends, and Reading Co-Operative 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 Reading Co-Operative Bank to confirm current weekend availability before you go.

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

The core details for Reading Co-Operative 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 Reading Co-Operative Bank before applying. If you represent Reading Co-Operative Bank, claim this listing to keep its information up to date.

You can reach Reading Co-Operative Bank by phone at (781) 664-2815, online at readingcoop.com, or via their contact form at https://readingcoop.com/contact. For SBA loans specifically, ask for their business lending department—confirm program availability directly with the bank.

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