Lending Services for Your Small Business
RCU is pleased to offer a full line of vehicle, credit card, commercial real estate, line of credit and term loans for our Business Plus Members, who have been in business three years or more. Whether you are in need of a vehicle for your business, a line of credit for your cash flow needs, a business credit card, furniture or other office equipment or to purchase real estate, RCU Business Plus has the right loan for your business.
| Loan Products |
- Business Loan Application (pdf*)
- Member Check List (pdf*)
- Individual Financial Statement Form (pdf*)
- Business Rates
Business Credit Cards
The Redwood Credit Union Business Credit Card provides a flexible way to streamline purchases and help you control your expenses. A Redwood Credit Union Business Credit Card allows you to:
- Separate business from personal expenses
- Issue cards to employees for purchases, travel, etc.
- Set the spending limit on each employee's card
- RCU Business VISA Rates
For more information, please contact RCU's Business Services Division at 1 (800) 895-7610 or visit an RCU branch.
Commercial Real Estate
Redwood Credit Union offers very competitive financing for commercial real estate, including the purchase of existing buildings or refinancing current loans. These loans use the property as the required collateral, and often are used for:
- Commercial properties, both owner- and non-owner occupied
- Rental housing
- Combination business/residential properties
- Member Check List Use this handy check list to ensure you're including all the appropriate information with your loan application.
- Apply Now! (pdf format*)
- View Commercial Real Estate Rates
Recognizing that your real estate transaction may be unique, Redwood Credit Union offers an innovative and flexible program to fit your needs. Commercial real estate loans are amortized over a maximum of 25 years with either a fixed or variable interest rate for a maximum of 10 years. 1 to 4 rental units are handled by Redwood Credit Union's Real Estate Division.
Terms and Conditions: No prepayment options available. Maximum Term 10 years; Amortization up to 25 years; Loan to Value up to 75%; Required Minimum Debt Service coverage of 1.25; Loan fee of 1% + out of pocket expenses.
For more information, please contact RCU's Business Services Division at 1 (800) 895-7610 or visit an RCU branch.
Lines of Credit
A Redwood Credit Union Line of Credit will allow you to borrow only as much as you need, precisely when you need it. You may borrow up to a set amount and pay it down repeatedly, balancing your cash flow needs with this ready source of short-term funds. A Line of Credit is simple and easy to use, and is an excellent financial tool to:
- Cover short term cash needs until accounts receivable can be collected
- Take advantage of supplier discounts
- Cover seasonal working capital needs
- Member Check List - Use this handy check list to ensure you're including all the appropriate information with your loan application.
- Apply Now! (pdf format*)
- View Business Rates
A Line of Credit is most often secured by accounts receivable, inventory and other business assets, and may be renewable annually. Should you have any questions, contact us at 1 (800) 895-7610 or visit an RCU branch.
SBA Loans
Guaranteed in part by the US government, Small Business Administration (SBA) loans from RCU can help your business with a wide variety of lending needs that might not otherwise qualify for conventional financing.
7(a) Loans
SBA 7(a) Loans can be used for a variety of purposes, including tenant improvements, debt refinance, equipment, working capital, acquisition, partnership buyout, commercial real estate and more.
- Terms from 7 to 25 years
- Amounts from $75,000 to $2 million
504 Loans
SBA 504 Loans offer long-term fixed rate financing for real estate, machinery or heavy equipment for expansion or modernization.
- Up to 90% financing
- Amounts up to $5 million
Call our knowledgeable professionals at 1 (800) 895-7610 to learn how an SBA loan from RCU can help you build your business.
Term Loans
Term loans are used to finance the acquisition or modernization of the company's productive assets. Term loans are commonly used for:
- Purchases of machinery, equipment, furniture, fixtures, and to make leasehold improvements
- Additions to long term working capital
- Expansion or modernization of facilities
- Vehicles or other business transportation
- Member Check List - Use this handy check list to ensure you're including all the appropriate information with your loan application.
- Apply Now! (pdf format*)
- View Business Rates
The source of repayment is often generated by the enhanced cash flow from these assets. The loan period is determined by the productive life of the assets. For example, loans used to buy computers and office equipment will be shorter in duration than those used to purchase manufacturing equipment.
For more information, please contact RCU's Business Services Division at 1 (800) 895-7610 or visit an RCU branch.
