Small Business Loans, Lines of Credit, Commercial Real Estate Loans, and Business Vehicles Loans
Whether you need assistance financing inventory, equipment or real estate, First U.S. can help. We offer small business loans with a fixed or variable interest rate based on the Prime Rate. In addition, we can provide Small Business Administration (SBA) loans for up to $2,000,000 ($4,000,000 for real estate). Loan maturity is determined by the ability to repay, loan purpose and the useful life of the assets financed. With respect to SBA loans, the maximum maturity for working capital is seven years and up to twenty-five years for real estate and equipment.
Please call us at (800) 556-6768 to discuss which loan option makes sense for your business.
Lines of Credit
An SBA line of credit gives you the ideal cash management tool. With a business line of credit you make interest-only payments on the current principal balance, thus keeping your monthly payments as low as possible. Loans under $50,000 usually qualify for an expedited application process. There is a one-time-only fee of 1% of the principal amount to initiate the line with no renewal fees. Business lines of credit are available from $5,000 to $350,000 with terms up to seven years.
Commercial Real Estate
SBA 504 commercial real estate loans are an excellent way to acquire business property with minimal cash outlay. As a business owner you may purchase a business property (including long-lived assets) with only 10% down. 50% of the purchase price is financed by First U.S. with the remaining 40% through the SBA using below-market fixed interest rates with a 20-year term. Nearly all project costs can be financed with a loan package of up to $4 million.
To be eligible for an SBA guaranteed loan through First U.S., the business must operate for profit, have reasonable owner equity to invest and use alternate financial resources first. The business owner must also be in good standing with the Credit Union. The primary consideration for loan approval is the ability to repay the loan from the cash flow of the business. The SBA and First U.S. also look for good character of the owners, management experience, collateral and the owner's contribution (all individuals owning 20% or more of the business are required to personally guarantee SBA loans).
Business Vehicle Loans
Let First U.S. help keep your business moving with our New Business Vehicle Loans. If your business is in need of a single vehicle or a fleet of vehicles, you’re in luck. First U.S. offers business vehicle loans for new or used autos, vans or trucks up to 1 ton, with affordable financing, competitive rates and terms to 72 months, that will fit your company’s budget and help you save money!
Business Visa Credit Card
Low rate financing for almost any business need.
We're pleased to introduce the latest in our complete line of Business savings, checking, and loan solutions – the First U.S. Business Platinum VISA.
- Rates as low as 11.50% APR.
- No annual fee the first year, and when you maintain an active Business Checking Account or First U.S. Business Loan.
- No Balance Transfer Fees – to help you save right away when transferring higher-rate debt to your new card.
- VISA's Zero Liability protection from unauthorized transactions.