SBA lender profile
Salem Five Cents Savings Bank
Salem Five Cents Savings Bank appears in the public SBA loan data with 282 funded 7(a) loans totaling $84.0M, an average of $298K per loan, and an estimated 3,023 jobs supported. Its SBA lending concentrates in Massachusetts and the Administrative and Support sector. Across all of its loans in the data, its charge-off rate is 0.0%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, as of 2026-03-31
Funded loans
282
Total volume
$84.0M
Average loan size
$298K
Charge-off rate
0.0%
Share of funded loans charged off
Jobs supported (reported)
3,023
Programs
7(a)
Bank profile
via FDIC- Total assets
- $8.6B
- Headquarters
- Salem, MA
- FDIC cert
- #23296
- Status
- Active
Where Salem Five Cents Savings Bank lends
Top states by funded SBA volume.
| State | Loans | Total volume |
|---|---|---|
| Massachusetts | 272 | $80.3M |
| New Hampshire | 10 | $3.7M |
What Salem Five Cents Savings Bank funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Administrative and Support | 32 | $25.5M |
| Professional and Technical Services | 39 | $17.2M |
| Construction | 61 | $11.6M |
| Health Care and Social Assistance | 43 | $8.9M |
| Retail Trade | 25 | $4.9M |
| Other Services | 31 | $4.2M |
Salem Five Cents Savings Bank SBA lending by year
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2020 | 32 | $22.5M |
| 2021 | 28 | $11.0M |
| 2022 | 40 | $15.7M |
| 2023 | 47 | $7.5M |
| 2024 | 46 | $9.0M |
| 2025 | 75 | $14.1M |
| 2026 | 14 | $4.3M |
Sources and disclaimer. All figures are computed from
the U.S. Small Business Administration's public FOIA 7(a) and 504 loan data (as of 2026-03-31),
as described in our methodology.
The charge-off rate is the share of Salem Five Cents Savings Bank's funded loans marked charged off across all of its
loans in the data; it is not a lifetime default rate. SBA Loan Index is not affiliated with the
SBA and is not a lender, broker, or financial advisor. This is general information, not advice.
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