Supporting Local Businesses Every Step of the Way
At Community Service Credit Union, we are happy to help local businesses thrive and grow with customized loan solutions.
FREQUENTLY ASKED QUESTIONS
Do I need to be a member to obtain a business loan?
Yes, you need to be a member to obtain a business loan. Becoming a credit union member is quick and easy. All you need to do is open a business savings account in a branch. Even better, you can open a business checking account at the same time.
What do I need to apply for a business loan?
Fortunately, a lot the details are taken care of at account opening. When it comes to borrowing you will need some extra information such as:
- Details about the type of business you own and operate, including the date of inception, any employees you have, and the operating structure of the business.
- Financial details like your annual net profit, annual gross sales, and outstanding financial obligations.
- Specifics about the loan you are trying to obtain, such as estimates or tax values.
- Financial statements, business tax returns for the guarantor and the business as applicable.
Once a loan is approved, how loan does it take to be funded?
Different factors such as the type of loan you apply for and the speed at which we are able to obtain all the required documentation will affect the overall time. We will be with you every step of the way to see that you receive funding as quickly as possible.