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If you don’t qualify for traditional bank financing, a Small Business Administration (SBA) loan might be right for you. If you’re looking to expand, purchase new equipment, augment working capital, refinance existing debt, or have another need, an SBA loan can help you get it done. As an SBA Preferred Lender, Salem Five streamlines and simplifies the entire application and approval process.
From purchasing equipment or vehicles and consolidating debt, to making tangible business improvements, and more, a Salem Five term loan can support your growth. You’ll get a specified repayment schedule and choose a fixed or floating interest rate.
If you’re looking to finance a commercial property, you need a solution geared to your business. Salem Five real estate specialists work to understand your business and market to develop truly customized commercial real estate financing options.
Finding competitive, high-quality financing options for your light and midsize aircraft and helicopters isn’t easy. Salem Five Aviation’s network of reputable national aviation finance brokers can help take the complexity out of the process.
Keep your numbers close at hand. Corporate Online Banking gives you 24/7 access to your finances and account details, including account balances and transaction details. Transfer funds, pre-program and pay bills, download your account to QuickBooks, and more.
Let deposits come to you with Salem Five Lockbox services. We'll pick up remittances from the post office and process deposits according to your instructions. Save time on deposits, while you speed payments and reduce the risk of internal fraud.
Get back the time you spend depositing checks at a branch with Remote Deposit Capture. With a desktop scanner you can process and deposit multiple checks from the comfort of your office to keep your workday moving.
Merchant Card Services from Salem Five make payment processing simple and worry-free. We work with Compliance Payment Solutions to help you accept electronic payments with a minimum of hassle and paperwork.
The right payroll services should take work off your plate. Payroll Services from Salem Five offers a full-service solution designed to streamline payroll and let you get back to doing what you do best—growing your business.
Offering your people access to a full range of Employee Banking Services from Salem Five shows them you care. And the comprehensive package of benefits included in our services acts as a powerful retention tool, all at no cost to your business.
Whether you’re a for-profit or nonprofit company; small, midsize, or corporate business; municipality; or attorney/IOLTA, you’ll find a Salem Five checking account that meet your requirements. From low fees or no fees and cash management services, to interest-earning accounts, you’ll also get features designed to fit your business.
Business savings and money market accounts should be about more than just parking your money. With competitive rates, 24/7 account access, Investment Management options, and more, a Business Statement Savings or Business Star Money Market account gives you the opportunity to put your funds to work.
Attorneys have unique needs. A no-fee Interest on Lawyers Trust Account (IOLTA) checking account from Salem Five offers more than just interest on your funds. You’ll enjoy unlimited monthly transactions, low-fee Online Banking, and more.
Automate your investments and maximize your income with a Sweep Account. Overnight, your excess funds are placed in interest-bearing Repurchase Agreements. You’ll earn interest while preserving your liquidity.
A Zero Balance Account automatically pools funds from your subsidiary accounts every day for investment or other productive uses. Reduce idle balances and reduce costs by eliminating overdrafts and wire transfer expenses.
Give your business more purchasing power, while you make your banking easier. A Visa® Business Debit or ATM Card lets you use any ATM worldwide for free, make purchases, easily track expenses, and much more.
You need to ensure that your buildings, equipment, and personal property covered from a range of different exposures. Salem Five offers a flexible, tailored Commercial Property insurance solution built around your industry, environment, and operation.
Protect your people and vehicles when they’re on the road. Salem Five’s Commercial Auto solutions cover several potential risks, including Liability coverage for bodily injury and property damage to others; Uninsured Motorist coverage for damages caused by an uninsured driver; Underinsured Motorist coverage for damages caused by drivers who carry inadequate limits; and more.
A claim against your company for injury or loss can come from anyone—your people, customers, vendors, contractors, etc.—at any time. Keep your business protected from a wide variety of claims and ensure your defense costs are covered with General Liability coverage from Salem Five.
Any work-related injury or illness can put both your people and your business in a tough situation. Workers Compensation coverage from Salem Five provides your employees with compensation for medical bills and lost while they recover, and protects your business from potentially costly civil litigation.
If your founder or chief officer suffered sudden disability or death, how would your business move forward? Investing in a Key Person, or Key Man, policy from Salem Five can help you get through the transition, covering financial losses and loan payments following any issue and keep you up and running through change.
Whether you need coverage geared to your specific industry or your business, Salem Five offers a policy to meet your requirements, with tailored coverages for several specific industries, such as Construction, Healthcare, Inland/Ocean Marine, Manufacturing, Real Estate, and more. Additional business coverages include Business Income, Commercial Bonds, Cyber Security, Group Life, Health and Disability, International, and Miscellaneous Liability.
Building a succession plan for your business brings up several critical questions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Salem Five Financial (SFF) financial and legal advisors can help you answer those questions and create the right plan for you and your business.
Looking for an employee benefit no-brainer or a way to attract top-tier talent? A flexible 401(k) plan from Salem Five offers your people tax-deferred growth potential and pre-tax contributions, while you get tax-deductible contributions.
At Salem Five, we are committed to helping your business succeed by providing banking products and services for community businesses. As small business experts, we understand that each business has its own unique financing needs. We're ready to help you meet these needs and enhance your growth potential.