USU Credit Union and the Small Business Administration (SBA) are partners in providing business owners with financing for start-up costs, operations and construction opportunities.
We offer competitive rates, low fees, and quick turnaround times.
SBA 7(a) loans can take several weeks for approval, so if you’re in need of quick cash, an SBA Express loan can help. SBA Express loans can be approved in less than a week, but they have a smaller maximum amount at $350,000. They are also only backed by the SBA up to 50%, so they have higher interest rates.
Other SBA loan types include the SBA Microlender, SBA CDC/504, and CAPLines. Using an SBA Microlender, business owners can receive up to $50,000 for smaller goals such as supplies, furniture, equipment, or working capital. The SBA CDC/504 loan is for real estate investing where you can get 40% of your project cost funded, up to $5 million. A CAPLine helps business owners who face seasonal revenue cycles and helps them to run the business smoothly year-round.
Commercial Lending Consultation
We are proud to help local businesses with their business needs. We strive to make the process as simple and fast as possible while providing great rates. We will help you determine your optimum financing needs and options.
To help expedite the process, please prepare the following documents:
- Current business profit and loss statement and a balance sheet.
- Last two years tax returns, business and personal, on any individual with 20% or more ownership.
- Personal financial statement on any individual with 20% or more ownership.
- Two years projections on any business less than two years old.
- Debt schedule listing all business and personal debts including balances and payments.
- Articles of incorporation and corporate bylaws for corporations.
- Articles of organization and operating agreement for LLCs.