We’re teaming up with the U.S. Small Business Administration to recognize the hard work, ingenuity, and dedication of small businesses and celebrate their contributions to our local economy.

We understand takes a special kind of person to run a small business. A person who has an idea, a vision, and a dream. Who is willing to put in the hours, the effort, and the energy. Who understands the importance of community, the power of commitment, and the value of service. A person like you.

So, we’d like to thank you for helping to make the Cape such a great place to live. And we’d like to help you enjoy even greater business success.

This week, we’re sharing tips about SBA loans, highlighting local entrepreneurs and more across our social media channels! Be sure to follow us on Facebook, Instagram and LinkedIN.

Small Business Administration Loans at The Coop

We partner with the SBA, a federal government agency, to offer financing assistance to small business owners. Many programs are available to aid in the acquisition of real estate, machinery, equipment, and other such assets. SBA loans are partially guaranteed by the government.

What are some advantages of SBA Loans?

• Credit flexibility. While SBA lenders often require good credit, SBA loans can be easier to qualify for than some traditional bank loans. The Small Business Administration guarantees the loans, which helps to reduce the risk to lenders.
• Long repayment terms. SBA loans can offer long repayment periods. For example, the maximum terms for equipment, working capital and inventory loans are 10 years. Real estate loan terms can be up to 25 years.
• Range of loan amounts. SBA loan amounts can range in size from as small as $500 to as large as $5 million or more, depending on the program and your needs.
• Set maximum interest rates. The SBA set limits on the interest rates lenders can charge. For the popular 7(a) loan program, variable loan rates are capped at 2.25% to 4.75% above the base interest rate and fixed rate loans are capped at 5% to 8% above the base interest rate. The prime rate and Libor rate are common base rates, but the SBA can pick an optional rate, too.

SBA Loans More Loan Options

Celebrating Small Businesses

We are shining a spotlight on some of our local small business clients! What do they do, what challenges do they face, what gets them most excited and what are the risks they’ve taken? Check back for details as we add stories from our customers about what it took them to be successful in their businesses here on the Cape.

Small Business Profiles

How can we help your business succeed?

We offer a variety of products and services designed for small businesses. Our Small Business Team can help you take advantage of what will work best for you.

Learn More  Contact Us

On Friday March 10, 2023, California based Silicon Valley Bank (SVB) was closed by state regulators and placed into receivership with the Federal Depositors Insurance Corporation (FDIC). Founded in 1983, SVB provided financing for almost half of US venture-backed technology and is familiar to many New Englanders for its 2021 purchase of Boston Private Bank.

It is important for you to know that this news, while unsettling, bears no impact on Cape & Coast Bank and most importantly, your deposits. The business model of SVB was strikingly different from how we have operated here at The Coop for more than 100 years.

Cape & Coast Bank is a well-capitalized, financially sound, community bank with a diversified asset base, managed by an expert and experienced team of banking executives and dedicated board members. We have always and will continue to provide a safe and reliable place for our friends, neighbors and community members to bank.

You have extra deposit protection at Cape & Coast Bank.

Cape & Coast Bank is a member of both the FDIC and the Depositors Insurance Fund (DIF), which means 100% of our clients’ deposits are insured in full, regardless of balance. By combining FDIC primary insurance and DIF excess deposit insurance, we are able to provide our depositors full insurance on all deposits.

The DIF is a Massachusetts-based fund that covers savings and co-operative banks in Massachusetts, including Cape & Coast Bank. You can rest easy knowing your deposits are fully covered because there is no safer place for your money than in a bank like Cape & Coast. No depositor has ever lost a penny in a bank insured by both the FDIC and DIF.

For information on how the FDIC and DIF insurances work together, watch the video below or visit our FDIC & DIF webpage: FDIC & DIF.

Committed to you.

Since 1921, Cape & Coast Bank has maintained an unwavering focus on operating with sound values and conscientious attention to ensure the safety of our clients’ funds. The success of our mission to serve your needs and to protect what you have worked hard to earn is evidenced by our Superior 5 Star Rating from Bauer Financial.

My team and I remain steadfast in our commitment to you and to our community, and stand ready to serve you today and long into the future.

Should you have any questions, please call us during normal business hours, or stop by any branch location.

Best Regards,

Jay Fabbio can be reached at jfabbio@mycapecodbank.com or 508.420.7849.

Cape & Coast Bank has appointed Jay Fabbio to the position of Assistant Vice President, Marstons Mills Branch Manager – Small Business Specialist.

Jay, of East Falmouth, is a knowledgeable and accomplished financial services professional with more than two decades of retail banking and insurance experience. Jay joins The Coop from Citizens Bank, where he served as branch manager of its Falmouth location. He has also held senior-level roles at New York Life and TD Bank.

In his new role at The Coop, Jay will guide and manage the Marstons Mills team to deliver personalized service to each client, as well as develop and grow strong relationships with local community and nonprofit organizations.

“We are thrilled to welcome Jay to The Coop team to lead our Marstons Mills branch,” said Lisa Oliver, Chair, President and CEO, Cape & Coast Bank. “His demonstrated success in providing exceptional customer service, team building, coaching, and managing high-performing teams aligns perfectly with The Coop’s ideals and principles.”

Fabbio is also involved in community affairs and is an active supporter of Heroes in Transition, a Cape-based organization that provides assistance for veterans, service members and their families not readily available from government agencies or other providers.

“I am grateful for the opportunity to join The Coop, an institution that offers a great culture and environment for employees and values the power of strong customer service and relationships,” said Jay. “I look forward to working with the team at The Coop’s Marstons Mills branch to create the best customer experience possible.”

Allyson Brainson can be reached at abrainson@mycapecodbank.com or 508.568.1205.

Winter is the perfect time for local business owners to reevaluate their point-of-sale (POS) payment processing strategies as they reflect on the holiday season and look toward another busy spring and summer.

If you experienced processing system outages due to obsolete technology during the peak shopping season or realized that by only accepting cash your business may have lost significant sales and revenue, the time is now to contact The Coop and discuss making a change.

Realizing that evaluating and adopting new POS technology can be a daunting task for business owners, The Coop has partnered with Clover to help simplify operations with an all-in-one payment processing system customized for retailers, restaurants and service businesses. And of course, increase sales and revenue, and, ultimately, the bottom-line of the business.

Whether you’re an artisan selling goods at craft fairs or a high-volume retailer or restaurateur with multiple locations, The Coop and Clover can craft the perfect solution to meet your needs.

The team at The Coop and Clover will conduct a thorough assessment with the customer to determine the unique needs of the business and determine which POS system is most appropriate. Clover solutions run the gamut from a contactless chip and swipe reader that wirelessly pairs to a mobile device to a fast and powerful all-in-one countertop POS and business management system with a second screen lapwing customers to view the transaction and initiate payment.

The possibilities for growing a business and enhancing customer service are endless with today’s Clover POS merchant services systems. Imagine finally being able to accept all forms of payment including debit, credit, EMV chip and tap cards, as well as Apple, Google and Samsung Pay? How about a professional service provider being able to take immediate payment instead of waiting for an invoice to be paid in 30 days? And during the pandemic recovery era, it is increasingly important to be able to accept and process curbside payments. Clover POS can do it all.

There are also more than 500 business-specific apps that can be incorporated into a customized POS system. They include a wait list app for restaurants, a salon appointment scheduler, inventory management, and so much more.

Take advantage of the winter slow period and make that call to The Coop’s business banking team, or inquire here.

Make sure your business is well prepared to accept and process a wide array of payment options before the annual influx of visitors and tourists arrive on Cape Cod, the South Shore and Southeastern Massachusetts,

Allyson Brainson is Vice President, Small Business Relationship Manager for Cape & Coast Bank. She can be reached at abrainson@mycapecodbank.com or 508.568.1205.

The Cooperative Bank of Cape Cod has announced the promotion of six client relationship experts in recognition of individual performance and successes within the organization.

“Our client focused personnel represent the front-line of the bank and have the important role of interacting with The Coop’s clients and small business customers on a daily basis,” said Lisa Oliver, Chair, President and CEO, The Cooperative Bank of Cape Cod. “I congratulate this dynamic, talented and dedicated group of employees on their well-deserved promotions. It is a pleasure to reward their exceptional professionalism, expertise and community commitment with advancement to new positions within the organization.”

The promotions include:

• Glenn FitzGerald, Small Business Relationship Manager: Glenn, of Plymouth, joined The Coop in 2019 as a Branch Manager – Small Business Specialist in the Yarmouth Port branch, and quickly became a trusted and valued advisor to local clients. He was also instrumental in assisting business clients with the PPP loan process during the height of the COVID-19 pandemic. Glenn previously held senior positions at State Street Corporation and Fidelity Investments.
• Sarah Duffany, Branch Manager – Small Business Specialist for the Falmouth branches: Sarah, of Wareham, joined The Coop in 2016 as a Universal Banker and was promoted to Assistant Branch Manager in 2019. She has completed the Massachusetts Bankers Association Branch Manager Certification Series and currently serves as an Ambassador for the Falmouth Chamber of Commerce and is a Director for the Bands for Badges organization. She also received the Cape & Plymouth Business 40 Under 40 in 2022.
• Gina Kirksey, Branch Manager – Small Business Specialist for the Yarmouth Port branch: Gina, of Yarmouth, joined The Coop earlier this year as manager of the Marstons Mills branch. An accomplished financial services professional with more than 25 years of banking and retail management experience, Gina previously held management positions at Santander Bank and Bank of America. She is active in community affairs and has volunteered with nonprofit organizations including Habitat for Humanity, United Way and Make-a-Wish Foundation.
• Kim Kvietok, Branch Manager – Small Business Specialist for the East Dennis branch: Kim, of South Dennis, joined The Coop in 2005 and has been promoted several times to positions of increasing responsibility, most recently to Assistant Branch Manager in 2016. She is active in the Dennis Chamber of Commerce, participates in several local charity events and is currently in the process of establishing a women’s business group.
• Jenn Deutsch, Assistant Branch Manager for the East Dennis branch: Jenn, of Dennis, joined The Coop in 2018 and has held the positions of Teller, Senior Teller, Universal Banker and Floating Supervisor. She is committed to providing exceptional service to clients and branch teams, is an active community volunteer and currently serves as a Director of the Dennis Chamber of Commerce.
• Crissy Smith, Assistant Branch Manager for the Falmouth branches: Crissy, of Mashpee, joined the Coop as a Floating Supervisor in 2016 and was promoted to Floating Supervisor Team Leader in 2021. During her tenure, Crissy has supported clients at each of the bank’s nine branch locations.