Avidia Bank
(800)508-2265, solarloans@avidiabank.com
42 Main Street, Hudson, Massachusetts 01749
Website: www.avidiabank.com
Loan Type(s): Secured (UCC-1 on equipment). Avidia Bank is working in partnership with BlueWave Finance Group. Loans from Avidia Bank come with a mandatory 30 year SREC management agreement and are available only through BlueWave Partner installers. All Mass Solar Loan installers are eligible for partnership.
Closing Costs: None
Maximum Loan Amount: $60,000
Counties Served: Barnstable, Berkshire, Bristol, Dukes, Essex, Franklin, Hampden, Hampshire, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, Worcester
Bank Five
(774)888-6100, stephanie.primo-simons@bankfive.com
79 North Main Street, Fall River, Massachusetts 02720
Website: www.bankfive.com
Loan Type(s): Secured (UCC-1 on Equipment)
Closing Costs: No fees unless property is held in a trust or a life estate: max $500
Maximum Loan Amount: $3,000-$60,000
Counties Served: Barnstable, Berkshire, Bristol, Dukes, Essex, Franklin, Hampden, Hampshire, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, Worcester
Branch Locations: Bristol County / South Coast
Clinton Savings Bank
(978)365-8933, consumerunderwriters@clintonsavings.com
200 Church Street, Clinton, Massachusetts 01510
Website: www.clintonsavings.com
Loan Type(s): Secured (UCC-1 on Equipment)
Closing Costs: $55 for UCC-1 recording fee
Maximum Loan Amount: $35,000
Counties Served: Middlesex, Worcester
East Cambridge Savings Bank
(866)354-3272, loanops@ecsb.com
292 Cambridge Street, Cambridge, Massachusetts 02141
Website: www.ecsb.com
Loan Type(s): Secured (UCC-1 on equipment)
Closing Costs: $75-$105
Maximum Loan Amount: $35,000
Counties Served: Essex(Partial), Middlesex(Partial), Suffolk(Partial)
Branch Locations: Arlington, Belmont, Cambridge, Chelsea, Medford, Somerville, Waltham
Equitable Bank
(781)337-8000, consumerlending@equitablebank.com
744 Broad Street, Weymouth, Massachusetts 02189
Website: www.equitablebank.com
Loan Type(s): Unsecured, Secured (UCC-1 on equipment).
Closing Costs: 1% of loan, not to exceed $500
Maximum Loan Amount: $50,000
Counties Served: Barnstable, Berkshire, Bristol, Dukes, Essex, Franklin, Hampden, Hampshire, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, Worcester
Family Federal Savings
(978)353-0000, customerservice@familyfederal.com
130 Whalon Street, Fitchburg, Massachusetts 01420
Website: www.familyfederal.com
Loan Type(s): Secured (UCC-1 on equipment)
Closing Costs: None
Maximum Loan Amount: $35,000
Counties Served: Middlesex, Norfolk, Worcester
Branch Locations: Fitchburg, Needham, and Stow
First Citizens' Federal Credit Union
(508)990-4289, giselle.crowell@firstcitizens.org
200 Mill Road Suite 100, Fairhaven, Massachusetts 02719
Website: www.firstcitizens.org
Loan Type(s): Secured (no mortgage recording; will file UCC-1 on equipment); 5 Year / 10 Year /15 Year/ 20 Year Terms available
Closing Costs: $100 - additional fees if property held in a Trust or life estate
Maximum Loan Amount: $10,000-$60,000
Counties Served: Barnstable, Bristol, Dukes, Norfolk, Plymouth
Franklin First Federal Credit Union
(413)774-6700, talktous@franklinfirst.org
57 Newton Street, Greenfield, Massachusetts 01301
Website: www.franklinfirst.org
Loan Type(s): Unsecured and Secured with UCC-1 filing
Closing Costs: Up to $90
Maximum Loan Amount: $50,000
Counties Served: Franklin
Greenfield Cooperative Bank
(413)772-5000, loaninfo@greenfieldcoopbank.com
63 Federal Street, Greenfield, Massachusetts 01301
Website: www.bestlocalbank.com
**Greenfield Cooperative Bank is no longer accepting new solar loan applications. They will continue to service existing solar loans.
Mutual Bank
(781)524-5020, rkelley@mymutualbank.com
342 Bedford Street, Whitman, Massachusetts 02382
Website: www.mymutualbank.com
Loan Type(s): Secured (UCC-1 filing on equipment)
Closing Costs: None
Maximum Loan Amount: $60,000
Counties Served: Barnstable, Bristol, Middlesex, Norfolk, Plymouth, Suffolk
Naveo Credit Union
(617)702-5143, solarloan@naveo.org
493 Somerville Avenue, Somerville, Massachusetts 02143
Website: www.naveo.org
Loan Type(s): Secured, Unsecured
Closing Costs: Unsecured - None; Secured between $25-$300
Maximum Loan Amount: $60,000
Counties Served: Somerville, Cambridge, and all of Middlesex County, Boston and all of Suffolk County, certain cities and towns in southern Essex County(Partial)
North Brookfield Savings Bank
(508)867-1302, dtiso@banknbsb.com
35 Summer Street, North Brookfield, Massachusetts 01535
Website: www.northbrookfieldsavingsbank.com
**North Brookfield Savings Bank is no longer accepting new solar loan applications. As a small community bank, they have reached an internal limit for this loan type . They will continue to process loan applications submitted prior to 8/22/16 and will continue to service existing solar loans.
Sharon Credit Union
(781)784-7725, masssolar@sharoncu.com
30 Pond Street, Sharon, Massachusetts 02067
Website: www.sharoncu.com
Loan Type(s): Unsecured, Secured
Closing Costs: Less than $35,000: No Costs; Over $35,001: maximum cost $500
Maximum Loan Amount: $35,000 Unsecured; $35,001-$60,000 Secured
Counties Served: Barnstable, Bristol, Middlesex, Norfolk, Plymouth, Suffolk
Branch Locations: Sharon, East Walpole, Mansfield, North Attleboro, Foxoboro
Shrewsbury Federal Credit Union
(508)845-6755, info@shrewsburycu.com
489 Boston Turnpike, Shrewsbury, Massachusetts 01545
Website: www.shrewsburycu.com
Loan Type(s): Unsecured, Secured
Closing Costs: Only if there is a charge, max $400
Maximum Loan Amount: $60,000
Counties Served: Berlin, Boylston, Clinton, Grafton, Holden, Millbury, Northborough, Shrewsbury, Sterling, West Boylston, Westborough, Worcester(Partial)
Southern Mass Credit Union
(508)994-9971, info@southernmass.com
123 Alden Road, Fairhaven, Massachusetts 02719
Website: www.southernmass.com
Loan Type(s): Unsecured, Secured
Closing Costs: None
Maximum Loan Amount: $35,000
Counties Served: Barnstable, Bristol, Dukes, Nantucket, Plymouth
Stoughton Co-Operative Bank
(781)344-3080, LoanDepartment@stoughtoncoopbank.com
950 Park Street, Stoughton, Massachusetts 02072
Website: www.stoughtoncoopbank.com
Loan Type(s): Secured
Closing Costs: None
Maximum Loan Amount: $60,000
Counties Served: Bristol, Norfolk, Plymouth
UMassFive College Federal Credit Union
(800)852-5886, solarloans@umassfive.coop
200 Westgate Center Drive, Hadley, Massachusetts 01035
Website: www.umassfive.coop
Loan Type(s): Secured with UCC-1 filing on panels and inverters.
Closing Costs: None
Maximum Loan Amount: $60,000
Counties Served: Barnstable, Berkshire, Bristol, Dukes, Essex, Franklin, Hampden, Hampshire, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, Worcester
Branch Locations: Hampshire, Hampden & Worcester Counties