Loan amounts may exceed the maximum amount depending on SBA guarantees and/or on secondary market participation. Loans subject to credit approval and other terms/conditions. Small revolving line of credit applies to existing business. New business (startups) can borrow up to $35,000 on approved credit.
Jordan Credit Union works with the Small Business Administration (SBA) to provide the best loan options for clients. Members may borrow up to $2.5 million, subject to the terms and conditions set by the union and its partners. Below is a list of the loan programs we offer, with descriptions to help you find out which product fits your needs. We will be glad to assist you if you need additional information.
By partnering with the SBA, we can offer you longer terms and lower rates on any type of equipment required to run your business, ranging from dump trucks to heavy-duty cranes. It also allows us to offer equipment loans to start-up companies that might not otherwise qualify for a conventional loan. In addition, there are no pre-payment penalties or annual fees associated. You can borrow up to $2 million for up to 7 years, all secured by your equipment. Talk to our friendly and professional staff for more details regarding our competitive loan terms and rates.
Commercial Real Estate
We can help you either purchase or build your new commercial building. Between the SBA and the credit union, we can create a package that will fit your specific company’s needs. There are no pre-payment penalties associated and the fees are lower than the industry standard. Additionally, based on credit and SBA eligibility, the down payment for your commercial loan could be as low as 10%, instead of the standard 25%! With that kind of savings you don’t want to pass up the opportunity to get a business loan today. Borrow up to $2.5 million to get the space you need.
Small Revolving Line of Credit
Businesses need cash flow to get started and to grow. This product is designed specifically for that reason! The Small Revolving Line of Credit can be used for all of your working capital needs: inventory, payroll, marketing expenses and much more. It offers a safety net by helping a small business overcome unexpected events or take advantage of growth opportunities. In addition, we offer interest-only payments for the first 5 years, and then you have a 2-year term to pay us back. Plus, there are no annual fees associated with the loan. This means you can focus on growing your business and increasing profits in the meantime. You can borrow up to $50k for whatever your business needs.