Small Business Loans and Lines of Credit
Term Loans - Up to $100,0001
- Purchase equipment or a vehicle(s) for business purposes
- Fixed rate
- 3-year, 4-year or 5-year term length options
- No origination fee
- Funds deposited into your Cape Cod 5 business account*
Lines of Credit - Up to $50,000
- Working capital for business purposes
- Variable rate
- 3-year revolving, interest-only payments, followed by 7-year term P&I payments
- No annual fee and no disbursement requirements
- Funds deposited into your Cape Cod 5 business account*
Sole Proprietorship
Most recent two years of filed federal tax returns
LLC or LLP
Most recent two years of filed federal tax returns including K-1, if applicable
Personal information for all owners with 20% or more ownership (including SSN and image of a driver’s license OR other government-issued ID)
Executed operating agreement
C Corp or S Corp
Most recent two years of filed federal tax returns including K-1, if applicable
Personal information for all owners with 20% or more ownership (including SSN and image of a driver’s license OR other government-issued ID)
Certificate of organization OR articles of incorporation
Am I eligible to apply online?
All for-profit businesses or self-employed individuals established in Massachusetts and operating within Cape Cod 5's service area are eligible to apply for a loan to be used for business purposes. You must provide your last two years' tax returns.
If you already have a business loan with Cape Cod 5, or if you are a nonprofit organization, or a business that has never filed a tax return, please reach out to us about our loan options through this form.
Who is NOT eligible to apply online?
Businesses who have never filed a tax return.
Nonprofit organizations.
Associations.
Cape Cod 5 clients with existing business loan.
Start-up businesses.
Businesses seeking a loan for a real estate transaction.
If you meet one of the above criteria, reach out to us through this form to find out more about how we can assist with your financing needs.
What is the maximum amount that I may request for a loan through this online application?
You may apply online through the loan portal if you are requesting a minimum of $5,000 and:
Up to $100,000 for a term loan to purchase equipment or a vehicle.
Up to $50,000 for a line of credit for working capital.
If you would like to apply for a loan greater than these amounts, please reach out to us through this form.
Are there any fees?
No origination or doc prep fees, only $23.50 for UCC Filing (all loans).
$25.00 RMV Title Amendment for vehicle purchases, when applicable.
Will I need to open a Cape Cod 5 business checking account?
Yes, we require a Cape Cod 5 business checking account. If you do not already have one, this can be opened as part of the closing process.
What documents will I need to provide?
Sole Proprietorships |
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LLC or LLP |
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C Corp or S Corp |
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How long does the process take?
Applicants can expect a decision within two weeks, though many applications may receive a decision within just a few days.
Funding to your Cape Cod 5 business checking account will occur within one business day of the closing date.
