Whether you’re looking to expand your small business, finance the purchase of new equipment, expand your business, or take out a line of credit for short term financing, we have the products, services, and knowledge in place to provide you with a complete small business banking solution.
South Shore Bank is pleased to participate in the State Treasurer’s Small Business Banking Partnership, an initiative that invests state reserve funds into Massachusetts community banks with the understanding that they will use the deposits to make new loans to small, credit-worthy businesses.
As of 12/31/13, the Small Business Banking Partnership has enabled South Shore Bank to provide 269 loans totaling $23,720,528.
Business Line of Credit Prime+0%*
for the first 12 months
Limited time offer! Use it for short term financing needs, purchasing seasonal inventory or supplementing receivables during slower periods. Apply online!
3.64% APR** 3 year fixed term loan
Limited time offer! Use it for financing vehicles and equipment, or refinancing existing vehicle and equipment loans that are currently with another bank. Apply online!
5 Year Owner Occupied
Commercial Real Estate Loans
As low as in the fours***
Limited time offer for owner occupied commercial real estate loans up to $1,000,000. We also have competitive rates for non-owner occupied commercial property. Apply online!
*Effective as of March 3, 2014 on qualified lines of credit up to $500,000 and is subject to change without notice. Qualified applicants receive a variable interest rate for the first 12 months based on South Shore Bank Prime Rate +0% with automatic deduction from an South Shore Bank business checking account. After the first anniversary date of the credit facility, the interest rate for all continuing lines of credit under this promotion, will be based on SSB prime rate plus a margin set forth in the note you will sign in favor of South Shore Bank to evidence the credit facility.
**Annual Percentage Rate (APR) effective as of March 3, 2014 for qualified loans up to $500,000 and is subject to change without notice. APR is based on a three year term.
*** Effective as of March 3, 2014 for qualified loans on commercial properties up to $1,000,000 and is subject to change without notice. Based on a 5 year fixed term, 25 year amortization. Standard closing costs apply. Property insurance is required. Flood insurance may be required. Subject to Credit approval.
These rates are for new loans only. Certain restrictions apply. Subject to credit approval. Offer may be withdrawn at any time without notice. Please call for more information.
Equipment is critical to the success of your small business. With our equipment financing products, you can keep your business efficient and successful.
Small business loan terms to five years are available for financing equipment, expanding operations or refinancing existing debt. We offer both fixed- and variable-rate programs to meet your particular needs.
South Shore Bank participates in several SBA loan programs to assist small- to medium-sized businesses. Because a portion of this type of loan is guaranteed by the government, it can be a creative alternative to traditional commercial financing. Apply for a SBA Loan Now!
As of May 31, 2010, the Small Business Administration, or SBA, is no longer covering the 2% fee on the amount of your loan they guarantee to your lending institution. That means banks are now going to require you to pay this fee. And with loans up to $350,000, those fees can really add up. Fortunately for customers who receive an SBAExpress loan from South Shore Bank, the fees are on us*. Apply for a SBA Express Loan Now!
*This offer is for SBAExpress loans. We will pay the SBA guarantee fee, up to $5,250. Fees on other SBA loan programs may also be reduced or waived. Customer is responsible for all non-SBA loan fees associated with the loan. Subject to credit approval. Customer must have auto deduction from a South Shore Bank checking account. New loans only. Offer may be withdrawn at any time without notice. Please call for more information. All other applicable rules and regulations may apply.
A line of credit provides your small business with a revolving loan to meet short-term financing needs. Your business can borrow funds, repay the balance, and then borrow again as needed. A line of credit is well suited for purchasing seasonal inventory or supplementing receivables during slower periods. Your line of credit can also be linked to your Business Checking Account to serve as overdraft protection. Apply for a Small Business Line of Credit Now!
Business overdraft protection provides you and your small business with a line of credit, should your account be overdrawn. Apply for a Small Business Cash Reserve Now!