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Bayonne Community Bank loans review
Find more than basics with this NJ lender — but ask customers about their experiences first.
Bottom line: New Jersey business owners can find a wide range of financing options, but negative employee reviews raise questions about the quality of customer service.
Business term loans, business lines of credit, business time loans, small business loans, SBA loans, business construction loans, commercial mortgages, passbook loans, auto loans, home equity loans and lines of credit, residential mortgages
Types of loans available
No
Online applications
Details
| Types of loans available | Business term loans, business lines of credit, business time loans, small business loans, SBA loans, business construction loans, commercial mortgages, passbook loans, auto loans, home equity loans and lines of credit, residential mortgages |
|---|---|
| Online applications | No |
| Number of branches | 31 |
| Branch hours | usually 9 a.m. to 5 p.m. weekdays, 9 a.m. to 1 p.m. Saturday |
| Customer service hours | 8 a.m. to 6 p.m. weekdays, 8 a.m. to 1 p.m. Saturday, 10. a.m. to 1 p.m. Sunday |
| Customer service options | Phone, email, form email |
| Mobile app | Yes |
| Routing number | 21213520 |
Review by
Anna Serio
anna.serio@finder.comAnna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Expert review
Bayonne Community Bank can be a good option for business owners who want to invest in a bank that serves their community. It offers a wide range of loan programs, plus specialized financing for small businesses. And unlike most community banks, the majority of branches are open on Saturdays.
But while customers haven’t left many reviews, employees paint a mostly negative picture of the company. You might be able to find high-quality customer service at another community bank that serves your area.
What is Bayonne Community Bank?
Bayonne Community Bank, more commonly known as BCB Bank, is a local New Jersey financial institution with branches in Long Island and Staten Island, New York. Like many community banks, it was founded with a mission to offer relationship-based lending and otherwise invest in the local community.
You may have seen employees putting together aid kits for homeless veterans, building homes for Habitat for Humanity in Patterson or running a drive for back-to-school supplies. It also makes monthly contributions to local nonprofits through its Pay It Forward program.
Types of loans available through BCB Bank
You can find a wide range of financing for your business — and options to cover personal expenses too.
- Business loans. Funding for a large, fixed expense like buying equipment, typically backed by a business asset.
- Business lines of credit. Regular access to cash as your business needs funds for working capital, seasonal costs and unexpected expenses.
- Business time loans. Usually a short-term loan to tide your business over while you wait for funds to come in, like payment for completing a contract.
- Small business loans. Term loans up to $500,0000 designed to help small businesses cover expansion and acquisition costs, construction, buy equipment or provide working capital.
- SBA loans. BCB offers government-backed loans through the Small Business Administration's (SBA's) popular 7(a) program, which you can use for most business needs.
- Commercial construction loans. Financing designed to cover the cost of your business's large construction projects.
- Commercial mortgages. Funds to buy multifamily homes, apartments, retail centers and other real estate properties for business use.
- Passbook loans. Loans backed by your BCB savings account to access the funds without having to make a withdrawal.
- Auto loans. Financing for buying a new or used car, with discounts available if you sign up for autopay from a BCB checking account.
- Home equity loans and lines of credit. Tap into the value of your home to cover one-time or ongoing personal expenses, like home improvements or supplementing a student loan.
- Residential mortgages. Home loans for personal use with options for fixed-rate, adjustable-rate and FHA mortgages.
How borrowing works
All BCB Bank loans are available by appointment. Typically your loan officer asks you to bring financial statements to your first meeting so you can discuss what type of financing is the right fit.
Turnaround times for first-time community bank loans can run several weeks. But unlike faster lenders, BCB Bank can provide expert advice and help ensure your business signs up for the most beneficial loan available.
How to get started
Follow these steps to set up your first appointment.
- Go to the BCB Bank website.
- Click or tap Your business in the main menu.
- Select the type of loans you want for your business — Loans and lines of credit are your standard financing options that aren't attached to a special program.
- Call or email one of the commercial loan officers and ask to set up an appointment.
Not sure what you need? Get started by calling the commercial lending team at 201-823-0700.
Pros
- Most branches open Saturdays
- Customer service available Sundays
- Mobile app
Cons
- Branches only open during business hours over the week
- Poor employee reviews
See other business loans
Compare how BCB Bank stands up against online lenders.
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BCB Bank reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | A+ |
| BBB customer complaints | 1 customer complaints |
| Yelp | 1 out of 5 stars, based on 2 customer reviews |
| Glassdoor | 2.2 out of 5 stars, based on 33 customer reviews |
| Indeed | 2.8 out of 5 stars, based on 40 customer reviews |
| Customer reviews verified as of | 01 December 2020 |
BCB gets a few, mostly negative online reviews. But it's generally not enough to make a judgment about it as a lender. Talk to other New Jersey or New York business owners who have experience borrowing with BCB to get a gist of the quality of customer service.
What do employees say?
Employees give BCB Bank mostly negative reviews. Several mention low pay and office politics as a negative. This could be a bad sign. Poor communication and low morale can negatively affect the quality of service. And low pay can make it difficult to establish a long-term relationship with a loan officer.
More products available at this bank
Consider also signing up for one or more of the following products to keep your personal and business finances in one place:
- Accounting and CPA services
- Attorney trust accounts
- Business healthcare management
- Checking and savings accounts
- Commercial real estate services
- IRAs
- Personal CDs
BCB Bank history
BCB was founded in Bayonne, New Jersey in 2000. It's since grown to 31 branches, mostly by acquiring other banks like Pamrapo Savings Bank and Allegiance Community Bank. But looks like it might not be expanding anymore in the near future. It's closing branches in Lodi and Colonia at the end of 2020.
Read our guide to the best business loans of the year to learn about more options.