commercial loan drop down

Commercial Loan

  • Commercial Vehicle Loans.  Loans up to $200,000. 75% of Retail Value (NADA Vehicle or Commercial Trust Guide). Term, lesser of eight years or the remaining useful life. Fixed rate financing available based on the term of the financing. 
  • Commercial Equipment Loans. Loans up to 100,000. 65% loan to value. Term, lesser of eight years or the remaining useful life.  Fixed rate financing available depending on the term of the financing. 
  • Irrevocable Letters of Credit. One year term. Fully secured by cash to be held at the credit union until the beneficiary releases the letter of credit. 
  • Commercial working capital lines of credit up to $100,000.00. Term will be one year, a thirty day clean-up will be required during that one year period. Interest only monthly based on the current outstanding balance. 
  • Commercial credit cards (Visa Platinum) Credit limits up to $25,000.00. Payments are equal 2% of the balance calculated monthly, minimum payment of $50.00. 
  • Shared Secured Loan amounts up to 95% of the balance held in prime share account. Term of up to ten years depending on the amount borrowed.