Business Loan Skip a Payment: We are offering three Skip a Payments if your income is impacted by the current COVID-19 situation on non-real estate secured business loans. There is NO FEE. Click here
Business Real Estate Secured Deferments: We are offering up to a three-month deferment for Commercial Real Estate and Investment Real Estate Mortgages if your income is impacted by the current COVID-19 situation. There is NO FEE. Please reach out to the Business Loan Department firstname.lastname@example.org or call our Member Service Center 877-642-7328 / 607-967-7101.
Businesses need loans for a variety of reasons, from growth and expansion to acquiring new assets that power business improvements. Our business lending services include loans, lines of credit, commercial mortgages and credit cards.
Business term loans
sfcu offers term loans which can be used for a variety of purposes. Here are just a few:
- Purchase of machinery, equipment, furniture, inventory
- Expansion or modernization of facilities
- Vehicles or other business equipment
Business lines of credit
A Business Line Of Credit is easy and simple to use, and is an excellent financial tool to support cash flow:
- Cover short-term cash until accounts receivable are paid
- Cover seasonal working capital needs
Commercial real estate loans
sfcu offers very competitive financing for commercial real estate, and can be used to purchase an existing building or to refinance a current commercial real estate property you may have and include:
- Commercial properties, both owner and non-owner occupied
- Rental housing, or combination business/residential properties
Business MasterCard credit cards
The sfcu Business MasterCard Credit Card provides a flexible way to streamline purchases and control your expenses. The business credit cards carry very competitive rates and terms and will enable you to:
- Separate business from personal expenses
- Issue cards to employees for purchases, travel, etc.
- Offer a safe, secure, and convenient way to make purchases for your business
Business overdraft protection
sfcu offers your business protection on your checking account from overdrafts and helps to protect against unnecessary fees.
- Loan to value will vary depending on the loan structure and collateral
- The Credit Union requires most member business loans to be secured
- NCUA rules & regulations require all principals and/or majority shareholders to guaranty all loans
- 3 years of business tax returns, including all attachments and schedules
- Interim financial statements, balance sheet and income statement dated within 90 days of application
- 3 years of personal tax returns on all principals and guarantors, including all attachments and schedules
- Current Individual Financial Statements
- Additional information may be required