Business Loans

We offer lending solutions to support your business through growth and general operations. Whether you need extra cash for equipment purchases, funding to act on business opportunities, or short-term cash flow, we have an option for you.

With a business loan from Needham Bank, you can expect a highly personalized approach. As our customer, you’ll have a dedicated commercial loan officer from our qualified lending staff, who will take the time to understand your business and get to know you—from where you are now, to how we can help get you to where you’d like to go.

Contact a Commercial Lender

Featured Above: Proud Mary Gifts with co-owner, Eileen Baker. (Not pictured: co-owner, Karen Loughery)

Business Loan Solutions

Business Term Loan

Whether you are looking to expand your operations or upgrade your facilities, our term loan is the credit solution for you. We provide financing for a variety of business needs, for example new equipment or vehicle purchases, renovations, and permanent working capital. Borrow up to seven years and receive a competitive rate. 



Business Line of Credit

Quick access to your money when you need it. Our business line of credit can help you manage your cash flow, act on business opportunities and take advantage of vendor discounts for prompt payment. A Needham Bank line of credit will help meet your short term borrowing needs. 

Small Business Administration (SBA) Guaranteed Loan

Needham Bank is an experienced SBA Lender, offering loan programs, including 7a, 504, SBA Express and Patriot Express.

Massachusetts Capital Access Program (CAP)

The Massachusetts Capital Access Program  (CAP) is designed to help small businesses (with 200 or fewer in employees) throughout Massachusetts obtain loans. 

 

Compare Business Lending Products

  Overdraft Protection FastTrack Business Loan FastTrack Business Line of Credit Business Term Business Line of Credit SBA Loan Mass CAP

Interest Rate

Variable (Prime +5%) Fixed Variable Fixed Variable Fixed or Variable Fixed or Variable

Term

N/A Up to 60 months Varies Up to 84 months N/A Up to 120 months Up to 84 months

Monthly Payment

Interest plus 3% principal Principal and Interest Interest Only Principal and Interest Interest Only Principal and Interest Principal and Interest

Minimum

$2,000  $10,000 $10,000 $50,001 $50,001 $5,000 $5,000

Maximum

$10,000 $50,000 $50,000 $10 million $10 million $5 million $500,000

Business Checking Required

Financials Required

     

Estimated Decision Time

2 Business Days 2 Business Days 2 Business Days Varies Varies Varies Varies

 

Apply Now (open PDF) Apply Now Apply Now Call xxx-xxx-xxxx Call xxx-xxx-xxxx Call xxx-xxx-xxxx Call xxx-xxxx

Serving Our Clients

George & Ken's Collision

“We like the fact that the bank is local and that everyone we deal with is nice." - Carrie Savary

Learn more about George & Ken's Collision

FAQs

What are the benefits of using NB Business Online Banking?

NB Business Online Banking is a great solution to managing your business accounts. It allows you to view account history, include multiple entities within one online profile, transfer funds, initiate wire requests, pay your bills and invoices online, pay your federal taxes online, and download your information into QuickBooks. NB Business Online is customizable to your business needs. We can help you save time and be more efficient.

What do I need to get started with NB Business Online and NB Business Mobile?

To use NB Business Online and Mobile Banking, please visit your local Needham Bank branch to complete a cash management service enrollment form and sign a Business Online Banking Agreement. 

Once you have completed and signed the necessary documents, your application will be sent to our Cash Management team to be processed. You will receive an email with secure attachments containing your Company ID, User ID, temporary password, and User Guide. Please follow the directions in the Welcome emails to retrieve your Welcome letter and User Guide via Needham Bank’s Secure File Transfer service.

How do I connect my QuickBooks or Quicken to Needham Bank with Business Online Banking?

At this time, web connect is the connection available for pulling account history from Business Online Banking into Quicken and QuickBooks. You will need to access the "Downloading Your Transactions" guide for instructions to download the account history activity into a Quicken or QuickBooks file. Then, you will import that file into your preferred program.

Knowledge Center

Financing Options for Your Business or Startup

Thinking about starting a business but need funds to get your feet off the ground? Consider these eight business financing options from Needham Bank.

Learn more about Financing Options for Your Business or Startup

Our business loans are your financing solution. Partner with an expert who is focused on your success. 

Contact a Commercial Lender