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
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?
Easy Ways To Apply Today
- Loans of $250,000 or less Complete and submit the QuickApp for Business Loans (pdf).
- Loans greater than $250,000 Call the Commercial Loan Department at 508.804.9188.
- For business vehicle loans for any titled vehicle Complete and submit the QuickApp for Business Vehicle Loans (pdf).
If you have any questions, please consult our Frequently Asked Questions page or, don't hesitate to call us.