Small Business Term Loan

Help your business grow and thrive. Utilize our Small Business Term Loan for general working capital and purchasing equipment, including new and used vehicles.

Benefits & Features

Growing Your Small Business

Set yourself up for success with these simple steps to help grow your small business.

Business Qualifications

  • Sales between $100,000 and $10 million
  • Been in business for at least 2 years
  • Minimum personal credit score of 700
  • Must be located in our assessment area

Businesses in certain industries are ineligible including weapons manufacturers, gambling businesses, pornography and marijuana dispensaries. See more information on Cannabis Banking.

Frequently Asked Questions

A small business loan is a funding tool designed to help small businesses cover operational costs, or invest in growth. They work by providing funds to your business upfront. You can then repay the loan over time, with interest.

Small business loans can be either secured or unsecured, depending on the specific terms of the loan. Get in touch with our Needham Bank team to discuss your options.

Small business loans can have either fixed or variable rates. Fixed interest rates stay the same, while variable rates can change over time. Talk to our business banking team so we can help you choose the best option for your needs.

Small business loan interest rates may vary based on factors like loan type and terms. Please contact your experts at Needham Bank for the most current and accurate rates.

Timing varies, but Needham Bank has gained a sterling reputation for being a prompt and responsive banking partner. Our Credit Committee meets at least twice each week and our Security Committee meets daily. This means that our customers get their loans approved, closed, and disbursed faster. We know speed matters to small businesses and strive to make the process as quick as possible.

We look forward to hearing from you.

Our experienced loan officers will take the time to get to know you and your business in order to recommend the right strategies and solutions.