Commercial Lending




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We have smart lenders, competitive rates, local roots...
and commercial money to lend.

Looking to finance commercial real estate or a local business venture?  We have money to lend. Whether you are looking for $4 Million or $40 million, we can make the deal; our commercial lenders know the market, are responsive and experienced, and are dedicated to the growth and success of your business.

One of the things that sets us apart from other banks is that all of our credit decisions are made quickly and locally, by people who know our communities and our markets. For nearly two centuries, we've been serving the borrowing needs of businesses and individuals in our markets. We're stable and secure, with a long established reputation for excellence. And we are here to stay.

Commercial Real Estate Loans

For purchasing and refinancing existing commercial real estate including residential multi-family and mixed use property, office buildings, flex space and retail complexes; construction and development of industrial and residential property. Long-term fixed and adjustable rate options are available.

Commercial Term Loans

For equipment and vehicle purchases, leasehold improvements and business-expansion financing. Repayment terms are typically tied to the depreciable life of the assets being financed.

Lines of Credit

Lines of credit are available to provide cash flow for short-term working capital needs at a variable interest rate.

SBA (Small Business Administration) Loans

IMPORTANT SBA UPDATE:  In response to the COVID-19 National Emergency, the SBA Express Bridge Loan (EBL) Pilot Program has been modified and the term extended. The EBL Pilot Program is designed to supplement the Agency’s direct disaster loan capabilities and authorizes SBA Express Lenders to provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts up to $25,000 for disaster-related purposes to small businesses located in communities affected by Presidentially-declared disasters while those small businesses apply for and await long-term financing (including through SBA’s direct Economic Injury Disaster Loan Program, if eligible). For more information, email VP Commercial Lender Philip Noto or call him directly at (978) 358-8894.

The Institution for Savings, together with the U.S. Small Business Administration (SBA), provides credit enhancements for small businesses through a variety of programs, including the 7(a) guarantee program and SBA Express Loans. Also available are direct SBA loans through the 504 lending program; these loans are made in conjunction with conventional bank financing to acquire real estate and certain business equipment.

Meet Our Lenders

Photo of Karl Wilson

Karl R. Wilson
Senior Vice President, Senior Lender, Commercial Lending
978-312-6810 Direct

Karl has more than 34 years of commercial lending experience which is a tremendous asset in leading the Bank’s busy commercial lending team. He joined the Institution for Savings in October of 2013 and assumed the role of Senior Lender and manager of the department in 2017. Before joining the Bank Karl held a similar position at North Shore Bank and was also Senior Vice President of Commercial Lending at Century Bank. He is very active in the community as well as local business organizations, and volunteered with the Boys Scouts for many years. Karl works from the Bank's Commercial Lending Center at 312 Haverhill Street in Rowley.

E-mail Karl

Photo of David Boudreau

David E. Boudreau 
Senior Vice President, Commercial Lending
978-225-1393 Direct

With more than 30 years of business banking experience, Dave manages a solid portfolio of commercial relationships for the Institution for Savings while continuing to help businesses of all sizes navigate the myriad of financing options to achieve their goals. He joined the Bank in 2006 and before that held similar positions at TD Bank and other North Shore institutions. Dave is active in numerous local Chambers of Commerce and local community organizations. In his spare time he enjoys gardening, travel, community theatre, genealogy, white water rafting and woodworking. Dave is located in the Bank’s Commercial Lending Center at 312 Haverhill Street in Rowley.

E-mail David

Photo of Katrina Cutts

Katrina P. Cutts
Senior Vice President, Commercial Lending
978-312-6811 Direct

With over 25 years of experience in financial services, Nina works closely with the Bank’s commercial lending team to help grow the Bank’s commercial real estate, construction and commercial loan portfolio in Massachusetts and southern New Hampshire. She primarily focuses on loan production of larger commercial real estate loans with complex loan structures.  Nina joined the Institution for Savings staff in 2014 as Vice President of Commercial Lending after holding similar positions at The Provident Bank and TD Bank.  She was promoted to Senior Vice President in 2018. When not assisting customers with their financing Nina can be found in a yoga class, nordic skiing or walking her dogs in the woods.

E-mail Nina

Photo of Marcia LaTorre

Marcia C. LaTorre
Senior Vice President, Credit Administration
978-312-6809 Direct

As Vice President of Credit Administration, Marcia works closely with senior management to direct the commercial loan activities and portfolio management of the Bank. Her direct responsibilities include the areas of financial analysis, underwriting, loan review and regulatory compliance. Marcia joined the Institution for Savings in December of 2016. Before that, she was Vice President of Risk & Credit Counseling at Cobblestone Management, LLC, which provides loan review, credit management consulting, and due diligence services to community banks. Marcia is located at the Bank's Commercial Lending Center at 312 Haverhill Street in Rowley.

E-mail Marcia

Photo of David Doucette

David Doucette
Vice President, Commercial Lending
978-225-1344 Direct

David works closely with members of Bank’s lending team to help grow the Bank’s commercial real estate, construction and commercial loan portfolio in Massachusetts. Following his college graduation David joined the Institution for Savings’ residential lending department. In 2009 he became a loan processor and then a credit analyst before becoming a commercial lender. Dave is on the board of Habitat for Humanity North Shore and in his spare time enjoys attending concerts and playing softball...and is a huge Boston sports fan as well. David works from the Bank’s Commercial Lending Center at 312 Haverhill Street in Rowley.

Email David

Mark Farrell

Mark Farrell
Vice President, Commercial Lending
978-358-8861 Direct

Mark joined the Bank’s busy commercial lending staff in January 2018 after holding a similar position at First Ipswich Bank for more than 9 years. With more than 30 years of community banking experience, Mark’s focus is to serve the commercial financing needs of businesses and individuals located within Boston’s North Shore area. Mark works from the Bank's 7 Bridge Road Salisbury Office and when not working, enjoys hiking and boating.

E-mail Mark

Photo of Phil Noto

Phillip P. Noto, Jr.
Vice President, Commercial Lending
978-358-8894 Direct

Phil joined the commercial lending staff in April 2019 after holding a similar position at North Shore Bank for more than 8 years.  With more than 18 years of community banking experience, Phil's focus is to serve the commercial financing needs of businesses and individuals located within Boston and the North Shore. Phil works from the Bank's Commercial Lending Center at 312 Haverhill Street in Rowley.

Phil holds a bachelor's degree in accounting with a minor in economics.  He is a member of the Middleton Board of Trade.

E-mail Phil

Photo of Lori Rostkowski

Lori G. Rostkowski
Vice President, Commercial Lending
978-309-1235 Direct

Thirty years of financial and banking experience helps Lori Rostkowski, a Cape Ann native, manage an extensive local commercial loan portfolio, while enabling her to extend her commercial lending relationships throughout the North Shore, Boston and South Shore. Lori established a solid foundation in credit administration before moving into commercial lending. She serves on the boards of the American Red Cross of Northeast Massachusetts and the Cape Ann Chamber of Commerce. When not working Lori stays busy watching college soccer, boating, skiing, snow-shoeing or walking her dogs.  Lori’s office is located at the Institution for Savings’ 4 Parker Street, Gloucester Office.

E-mail Lori

Dawne Studzinski

Dawne M. Studzinski
Vice President, Credit Analyst
978-312-6825 Direct

As an important part of the Bank’s busy commercial lending team, Dawne underwrites both commercial/industrial and real estate loans.  She joined Institution for Savings in 2015 after having held the positions of Senior Accountant and Credit Analyst at North Shore Bank.  She has also worked as an accountant for various companies encompassing service, retail, and manufacturing industries.

Dawne completed RMA’s Commercial Credit for Lenders in 2014.  She holds a BS in Business Administration with a concentration in Accounting and an Associate Degree in Computer Technology.   Dawne currently serves on the Board of Directors of the Jeanne Geiger Crisis Center.

E-mail Dawne



For a listing of other Business Banking services, please click here or call us at 978-462-3106.

*We also may lend outside of the primary and secondary lending areas if there are other circumstances that warrant exception, such as a borrower with a previous or substantial account relationship
with the Bank.

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