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  Century Bank of Massachusetts Lines of Credit

Century Bank of Massachusetts Lines of Credit

in Business Lines of Credit from Century Bank of Massachusetts

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Century Bank of Massachusetts Lines of Credit

Unaffiliated

in Business Lines of Credit from Century Bank of Massachusetts

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Century Bank of Massachusetts Lines of Credit Review

Century Bank of Massachusetts Lines of Credit is offered by Century Bank of Massachusetts, a bank founded in 1969 and based in Somerville, MA. Century Bank of Massachusetts Lines of Credit is available in 1 state across the USA.

Century Bank of Massachusetts Lines of Credit FAQ

What APRs does Century Bank of Massachusetts Lines of Credit offer?

Century Bank of Massachusetts Lines of Credit offers a fixed APR product, but they do not disclose their rates.

Does Century Bank of Massachusetts Lines of Credit charge an origination fee?

Yes, Century Bank of Massachusetts Lines of Credit charges an origination fee.

Does Century Bank of Massachusetts Lines of Credit charge prepayment fees?

Yes, Century Bank of Massachusetts Lines of Credit charges additional fees to borrowers who pay off their lines of credit sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a line of credit early.

What do you need to qualify for Century Bank of Massachusetts Lines of Credit?

Century Bank of Massachusetts Lines of Credit does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Century Bank of Massachusetts Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Century Bank of Massachusetts Lines of Credit. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Century Bank of Massachusetts Lines of Credit. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Government issued photo ID
  • Proof of identity

What are the business financing requirements for Century Bank of Massachusetts Lines of Credit?

To apply for Century Bank of Massachusetts Lines of Credit, the applicant needs to provide the following documentation:

  • Business license
  • Business bank account

Does Century Bank of Massachusetts Lines of Credit report your account activity to credit bureaus?

Yes, Century Bank of Massachusetts Lines of Credit reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

What types of business lines of credit does Century Bank of Massachusetts offer?

Century Bank of Massachusetts only offers unsecured lines of credit.

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Message From Century Bank of Massachusetts Lines of Credit

As a business owner, one of the most important relationships you’ll have is the one you establish with your bank. Century Bank is committed to helping businesses of all sizes succeed. We offer a business line of credit up to $500,000 that doesn’t cost you a cent unless you use it. Plus, lower a lower annual percentage rate may apply with auto-debit from your Century Bank business checking account. A business line of credit is financing that provides an influx of cash to pay for everyday needs. This type of financing is revolving, meaning your available balance grows with every principal payment you make. Whether you need money as your current company expands, looking to acquire an existing business or are eager to become an entrepreneur, Century Bank is here to help you. Century Bank is all about relationships. When it comes to financing, we treat every business and business owner as an individual. When you talk to one of our Lending Experts, we’ll take the time to get to know you and your specific needs. We consider many factors such as whether your company is a startup or has been around for years.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 4:00pm
  • Tuesday 8:00am - 4:00pm
  • Wednesday 8:00am - 4:00pm
  • Thursday 8:00am - 5:00pm
  • Friday 8:00am - 5:00pm
  • Saturday 8:00am - 1:00pm

Other Services by Century Bank of Massachusetts

Availability

  Available in 1 state
Massachusetts
Availabile in all of Massachusetts

Feature Breakdown

Business Financing Requirements
  • Business License
  • Business Bank Account
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
  • Driver License (or other photo ID)
Collateral Requirement Unsecured
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options
  • Automatic Payments
  • Storefront
  • Bank Transfer

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