SMALL BUSINESS LOANS
FMFCU has partnered with NU Direction lending to assist our members with small business loans where they may not have real estate as collateral. Ideal for financing business expansion, equipment purchases, or longer term working capital.
- Loan amounts are between $50,000 – $500,000
- Quick turnaround time of 5-6 business days from online application to funding
- Loans are fully amortized for 1-5 years
- Business must have revenue greater than $150,000 in the last twelve months
- Been in business greater than 24 months
- No bankruptcy in the past 5 years
- No unpaid judgment or liens in past 5 years
- No collections, charge off, or 90 day+ trade in over the last 24 months
- No current delinquencies
- FICO score more than 650
With a business mortgage loan, you can purchase, refinance, and renovate business property.
- Flexible terms
- Use business or personal real estate to secure a loan
- Competitive fixed or variable rates
- Commercial owner-occupied real estate
- Up to 80% LTV
- No pre-payment penalty
- Up to 15-year terms on owner-occupied properties
- Up to 10-year terms on nonowner-occupied properties
- 5-7 year fixed-rates
SMALL BUSINESS AUTO FINANCING
Dependable transportation is important to keep your daily business operations running smoothly.
BENEFITS OF AN AUTO LOAN:
- Loan terms up to 72 months
- Financing for new or used business cars,
including commercial vehicles
BUSINESS LINE OF CREDIT
Borrow only as much as needed, precisely when it’s needed, with a line of credit (secured or unsecured).
Lines of credit can be used for a variety of business reasons:
- Working capital (short term)
- Ideal for businesses with fluctuating cash flow
- Short-term financing needs
- Unsecured lines available from $5,000 to $200,000
BUSINESS CREDIT CARDS
Earn cash back on the things a small business buys most often or earn rewards on any purchase made with an FMFCU business credit card.