Mechanics Cooperative Bank
Taunton, MA 2780
⭐ SBA Preferred LenderStates Served
Top Industries Financed
- Landscaping Services
- Snack and Nonalcoholic Beverage Bars
- All Other Professional, Scientific, and Technical Services
- All Other Specialty Trade Contractors
- Golf Courses and Country Clubs
Quick Summary
Mechanics Cooperative Bank is an SBA-approved lender headquartered in Taunton, Massachusetts. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 32 SBA 7(a) loans totaling $7.9M, with an average loan size of $247K. They serve businesses across 2 states.
About Mechanics Cooperative Bank
Mechanics Cooperative Bank is an SBA-approved lender headquartered in Taunton, Massachusetts. Since 2020, they have approved 32 SBA 7(a) loans totaling $7.9M, with an average loan size of $247K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 2 states.
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Frequently Asked Questions
Is Mechanics Cooperative Bank an SBA Preferred Lender?
Yes, Mechanics Cooperative Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Mechanics Cooperative Bank approved?
According to SBA FOIA public records, Mechanics Cooperative Bank has approved 32 SBA 7(a) loans totaling $7.9M since 2020. Their average loan size is $247K.
What states does Mechanics Cooperative Bank serve?
Mechanics Cooperative Bank serves businesses in 2 states: Massachusetts, Rhode Island.
How do I apply for an SBA loan with Mechanics Cooperative Bank?
To apply for an SBA 7(a) loan with Mechanics Cooperative Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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