Business Term Loans
Ease your cash flow with a loan term up to seven years.
- Apply Now
Business Term Loans Benefits
- For virtually any business purpose
- Terms up to 7 years
- Loan amounts range from $20,000 to $3,000,000
- Rates are fixed (maximum 5 years) and variable rates are available
- Points are 1% or less, payable at closing
- Security interest required
Joining DCU was a great step in the growth of the business. Having all the features of larger banks, with excellent customer service, lower fees, if any, and without any sacrifice of any kind!
— Bill18, Merrimack, New Hampshire
Business Term Loans
Ease your cash flow with a loan term up to seven years. Choose a low fixed (maximum 5 years) or floating rate that fits your needs. Get your project started on the right foot and take advantage of up-front interest-only periods. 100% financing may be available in certain circumstances. DCU's Business Term Loans can be used for any business purpose including . . .
- new machinery and equipment
- remodeling, renovation, or expansion projects
- business acquisition
- leasehold improvements
- rental equipment
- permanent working capital
- debt refinancing
Business Term Loan Features
- DCU's Business Term Loans are secured term loans.
- Loan amounts range from $20,000 to $3,000,000.
- Points are 1% or less payable at closing.
- Rates are fixed (maximum 5 years) and variable rates are available*.
- Terms up to 7 years.
- Business Term Loans will be supported by the personal guaranty of the business owner(s).
- Repayment: monthly level payment including principal and interest, or a fixed principal payment plus the monthly interest can be chosen.
- Collateral: first position on assets to be financed and/or on all business assets.
- Collateral Loan to Value: up to 80% (up to 100% financing may be available based upon additional collateral).
- Reduced payment periods of up to three months per year are available upon request.
As with all financial institutions, the borrower will pay all fees and expenses relating to the loan. fees may include, but are not limited to, application fee, appraisal fee, attorney fees, recording fees, and any other fees that are normal to this type of transaction. All fees and expenses will be estimated for you prior to closing.
Business Term Loan Minimum Requirements
- Company must have been in business for 18 months or more.
- Business must be located in Massachusetts, New Hampshire, or Rhode Island.
- Personal and Business Credit must be satisfactory.
The rates, terms, and conditions above are guidelines and may not apply in certain situations. A DCU Representative will discuss any variations with you. Rates, terms, and conditions are subject to change without notice.
*The interest rate is determined by numerous factors including personal credit history, financial strength of the principals, experience of management, LTV (loan to value), NOI (net operating income), and the type and condition of the property.
Why are loans not available to Vermont businesses?
"DCU is Very Helpful and Convenient"
I have been a DCU member for 27 years and have never been disappointed. That is why I went to DCU to help with my new business account.
— Bob, Hollis, New Hampshire
Easy Ways To Apply Today
- Loans of $250,000 or less Complete and submit the QuickApp for Business Loans.
- Loans greater than $250,000 Call the Commercial Loan Department at 508.804.9188 or 800.328.8797, extension 9188.
- For business vehicle loans for any titled vehicle Complete and submit the QuickApp for Business Vehicle Loans.
If you have any questions, please consult our Frequently Asked Questions page or, don't hesitate to call us.
Please visit the Resources Tab to access all of our QuickApps and business forms.
"Great underwriting turnaround all within the same day."
It has always been a pleasure to bank with DCU. They have outstanding programs and services. Never again will I use any other bank or credit union.
— Buck87, Haverhill, MA
- Sole Proprietor Application (Business Account) (.pdf format)– If you are in DCU's field of membership you can open a DCU Business Account.
- Partnership, Limited Liability Partnership/Company, Corporation Application (Business Account) (.pdf format) – If all partners in your Partnership, members of your Limited Liability Company or stockholders or your Corporation are within DCU's field of membership, you can open a DCU Business Account.
- QuickApp for Business Loans (.pdf format) – Apply now for a loan for your business (includes business owner-occupied mortgages less than $500,000).
- QuickApp for Business Vehicle Loans – Apply now for a Vehicle (or any titled vehicle) Business Loan.
Business Related Forms
- Authorization to Obtain Financial Services – DCU requires the authorization of either all business owners or of the duly elected secretary authorized to act on their behalf in order to act on an application for membership. Please use this form if you do not have an existing resolution to provide.
- Business Account Change Form (.pdf format) – Members with existing DCU business checking and savings account use this form to change account information.
- Commercial Loan Payoff Request Form (pdf format) – Use this form to request a Commercial Loan Payoff.
- Personal Financial Statement Form (.pdf format) – Use this form when applying for a DCU Business Loan.
- Property Rent Roll and Operating Data Form (.pdf format) – Use this form when applying for a DCU Commercial Real Estate Mortgage.
- Starting or Buying a Business – You will need a business plan if you are: starting your own business, buying a business or franchise, in business for less than 18 months.
- StreetWise Glossary – Glossary of financial terms.
- How to Make Your Loan Payment – We make it easy to make your loan payment. Find out more about our convenient payment options.