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Loan Products

When you are ready to grow your business, purchase new equipment or purchase inventory, we can help with a variety of financing options. We understand the challenge of financing your business and can work with you to arrange a payment schedule to match your funding needs.

At Essex Savings Bank, you will have convenient access to a local Commercial Lending Officer who works to accommodate your schedule, where you do business. We pride ourselves on our quick response and offer in-depth experience on virtually every small business financing program available.

Commercial Term Loans

Term loans allow you to purchase equipment for your business, or provide long-term capital to fund your business growth. We can provide financing for office equipment, manufacturing equipment, company vehicles and a variety of other items your business needs. We will work with you to help select a repayment term that makes sense.

Commercial Real Estate Mortgages

Loans are available to purchase commercial properties or refinance existing debt at competitive rates. We will work with you to find the right mortgage product for your needs and will consider any type of owner-occupied commercial property or investment property as collateral.

Construction Mortgages

When you need to build a new facility, renovate or add onto an existing building, we offer flexible construction mortgages. Our simplified closing and documentation allow you to focus on your project and not paperwork.

Lines of Credit

Your business has unexpected challenges, timely opportunities and seasonal cash flow needs. You can handle these needs with a line of credit from Essex Savings Bank. Funds from your line of credit will be directly deposited into your Essex Savings Bank business checking account.

Development Loans

These loans are designed to fund the acquisition and construction of subdivisions. Let us structure a comprehensive land development package for you.

SBA Lending

Essex Savings Bank partners with the US Small Business Administration to provide loans backed by the SBA 7a Program. These loans can be used for start-up companies or those seeking significant business expansion. Our knowledgeable lending staff will guide you throughout this process.

504 Mortgages

These mortgages are a great opportunity for business owners seeking to purchase owner-occupied real estate. A 504 Mortgage provides up to 90% financing, with a 50% conventional first mortgage and up to a 40% second mortgage funded through an SBA debenture. This product reduces the initial investment required by the borrower and stabilizes cash flow with a long term, fixed rate second mortgage. It can also be used to fund long term machinery and equipment acquisitions.

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