Credit Union Small Business Loans
Genisys Credit Union believes that investing in entrepreneurs strengthens our economy and builds a better community. Genisys provides a great variety of small business lending solutions to Michigan businesses , including SBA loans, commercial mortgages, lines of credit, and term loans. As a credit union, we think you will find the rates on our business loan solutions very competitive when compared to loans offered by other institutions.
Express Loan
Need some extra funding quickly? We've got you covered with the Michigan Business Loan Express. Our Small Business Express Loans can help you get the funding you need in no time to get your business moving forward.
- Loans up to $150,000 for Vehicles, Equipment, or Term loans*
- 20% down payment required
- 1 business day decision time
- $450 fee rolled into the loan
- Borrowers must have ACH and eStatements set up
*Excludes Real Estate, Construction or Line of Credit.
Small Business Line of Credit
A business line of credit is a flexible loan that allows you to draw money from it as needed, without the same rigid terms as a standard business loan. You can use a small business line of credit for needs such as financing short term asset/inventory, and paying for receivables. Business lines of credit also include revolving:
- Variable interest rates (prime + 1 and up)
- Interest paid monthly
- Annual review/draws as needed
Small Business Term Loans
Traditional term business loans are one-time capital loans that are repaid at a fixed monthly rate, and can be used to finance the purchase of equipment, vehicles, and other business assets.
- Variable or fixed-rate
- Average term 5 years
- Monthly P&I payments (may have a draw period of interest only)
Commercial Mortgage
Commercial mortgages work like standard credit union home mortgages, except that the lien is applied towards commercial real estate property used for business purposes.
- Variable or fixed-rate
- 5 - 10 year term
- Generally requires 20% down payment
SBA 7(A) Loan
7(A) loans from the SBA are multi purpose small business loans, generally issued to start up businesses to help them get off on the right foot.
- Generally fixed rates
- SBA sets maximum
- Extended terms available up to 25 years on real estate
- No balloon terms
SBA Express Loan
SBA Express Loans are government-backed loans that can quickly be issued to your business to help pay for various business purposes, such as inventory, new equipment, and other overhead costs.
- Generally variable rate, can be fixed
- SBA sets maximum rates
- Extended terms
- No balloon terms
Learn More or Apply for a Genisys Credit Union Business Loan:
- Call or visit one of our branches
- Call our Contact Center at 800-521-8440, x 5
