BUSINESS LOANS

 

 

Business Overdraft Protection Line of Credit:  A line of credit attached to a business checking account at Credit Union ONE offering overdraft protection and funds for working capital cash flow.

 

·        Lines available up to $10,000 with credit approval

·        No annual fee

·        Prime + 5.99%

·        Repayment at 2% of balance each month (automatically deducted from checking account)

·        $5.00 fee for each automatic overdraft advance (no fee for manual draws requested over the phone or online)

·        Overdraft advances made in $100 increments

·        All-in-one application and agreement – so there’s no need to setup a loan closing with additional documents

 

            FORMS (click to open)

·        Business Overdraft Protection Line of Credit Application and Agreement

 

Business Equiline ONE:  A line of credit very similar to the consumer Equiline ONE, except it is documented in the name of the business.  Line amounts range from $10,000 to $250,000 and are secured by a first or second mortgage on the business owner’s primary residence.

 

            FORMS (click to open)

·        Information Sheet

·        Business Equiline ONE Credit Application

·        Personal Financial Statement

           

Business Investor Equiline ONE:  A line of credit designed for the real estate investor.  Multiple properties (such as occupied 1-4 family homes, commercial buildings, and owner’s personal residence) may be pledged to support one convenient line of credit.  Line amounts range from $10,000 - $150,000.

 

            FORMS (click to open)

·        Information Sheet

·        Business Investor Equiline ONE Credit Application

·        Personal Financial Statement

·        Schedule of Real Estate Holdings

           

 

Business Line of Credit:  A line of credit of up to $100,000 secured by business assets or unsecured.

 

            FORMS (click to open)

·        Business Loan Application

·        Personal Financial Statement

           

Equipment Loan:  A term loan to purchase or refinance essential business equipment.

 

            FORMS (click to open)

·        Business Loan Application

·        Personal Financial Statement

 

SBA (Small Business Administration) Loan:  Credit Union ONE partners with Newtek Small Business Finance to deliver SBA loans.  Contact David Haight (david_haight@cuone.org) for more information on SBA loans which work especially well for startup businesses.

 

Commercial Real Estate Loan:  Loans to purchase or refinance existing, occupied commercial buildings.  Examples include office buildings, retail stores, warehouses, and apartment complexes.  Generally, a maximum 75% loan to value is allowed.  Contact David Haight (david_haight@cuone.org) for more information.