Business Loans

Many types of businesses qualify for our credit union business loans, including non-profits, partnerships, corporations, LLCs, associations, clubs, and organizations.

A business term loan and a business line of credit differ in how the funds you borrow are accessed and how they are repaid. With a business term loan, you'll receive a lump sum of money upfront and repay it with monthly payments over a fixed term. These loans are ideal for large purchases, like real estate and equipment. A business line of credit works similar to a credit card. It allows you to borrow money as you need it up to your credit limit. You can borrow money, repay it, and then borrow again as often as you like during the draw period, which may be up to 5 years. These flexible loans can help you manage cash flow, cover unexpected expenses, or handle seasonal fluctuations.

To qualify for a Member Business Loan, your organization must provide financial information for three operating years, including business tax returns, fiscal year-end business financials, personal tax returns, and other information, depending on the loan type.

Credit unions are non-profit financial organizations. Their primary focus is serving the needs of their members instead of earning profits for distant investors. Their non-profit status allows them to offer lower rates and lower fees than traditional banks, which helps businesses save. Credit unions also offer personalized service and all loan decisions are made locally. They prioritize building long-term relationships by taking the time to understand the business's needs and goals to create customized solutions.

Yes, you can make extra payments or pay off your loan early to save on interest without penalties.

Our Member Business Loans are for businesses that are based out of or conduct business in Schuylkill County, Pennsylvania.

The debt-to-income (DTI) ratio is one of several factors that are considered for loan approval. It's a comparison of your business's monthly income to its monthly debt payments. A lower DTI ratio shows that a business has sufficient income to make its loan payments. On the other hand, a higher DTI ratio may suggest that a business will struggle to make its loan payments.