 |
Whether your business needs a loan right away, or a line of credit on
hand for those times when “right away” isn’t fast enough,
we can provide the financing you need to help grow your business on your
timeframe.
|
|
|
Loan Amount
|
$10,000 - $499,000 |
$10,000 - $499,000 |
|
Interest Rate
|
Variable, based on Century Bank's
prime rate. Interest rate may be lower with Autodebit from your Century
Bank business checking account |
Fixed. Interest rate may be lower with Autodebit
from your Century Bank business checking account |
|
Fees
|
None |
None |
|
Repayment Terms
|
Revolving - as principal is paid down, the available
balance increases |
Up to 5 years fixed - monthly payment of principal
and interest |
|
Use of Funds
|
Working capital for business needs |
Purchase of new or used equipment, machinery,
rolling stock, or for leasehold improvements |
|
Collateral
|
Secured |
Secured |
|
Access to Funds
|
Simply write a check on your loan account* |
Bank Treasurer's check |
|
Guarantors
|
Joint and several by all owners of 20% or more
of the business | Joint and several by all owners of 20% or more
of the business |
| * First five checks per month free, $10 for each check after. |
Summary only, review specific loan documents for specific terms.
Line of Credit
For the flexibility you need to operate your business efficiently and effectively every day, our line of credit may be the solution. Use it for working capital, to finance inventory, to offset seasonal differences in cash flow or for any other immediate needs. To make it even more convenient, payments can also be automatically deducted from your Century Bank business checking account.
Term
Loans
A term loan from
Century Bank may
be the reliable
option without
tapping into your
other sources
of credit. You
can use your business
term loan to finance
new or used machinery,
equipment, leasehold
improvements,
update your technology
and more. Our
competitive pricing
and flexible repayment
terms can help
you turn your
goals into reality.
Term loan payments
can also be automatically
deducted from
your Century Bank
business checking
account.
If you would
like more information
on Century Bank's
business loans
and rates, please
contact David
B. Woonton, Executive
Vice President
at 781.393.4106
or email him at
dwoonton@century-bank.com.
You may complete
our Information
Request Form
and we'll gladly
send you the forms
you need along
with appropriate
disclosure information.
Or, call us at
866.8.CENTURY
and ask to speak
with a Century
Commercial Banker.
You may also stop
by one of our
convenient branch
locations. Click
here
to find the Century
Bank nearest you.
Back to Top
|
|
