Business lending... from a credit union?
Leominster Credit Union offers a selection of flexible and affordable lending products to meet the evolving needs of today's businesses. Our expert lending professionals will work closely with you to determine which loan is best for you and your business.
Bring completed application and two (2) years business and personal tax returns to any LCU branch.
For additional information, contact Heather Dumais, AVP Business Lending at 978-466-7375 at hdumais@leominstercu.com.
Business Term Loans
Fixed monthly payments and competitive rates allow you to affordably grow your business. Term loans can be used for a variety of purposes including:
- Vehicles
- Equipment
- Machinery
- Remodeling or renovation
- Refinancing existing debt
Business Lines of Credit
Easily accessible source of cash can help you handle seasonal, cyclical or other short-term business needs. Lines of credit are also ideal for:
- Unexpected expenses
- Capital improvements
- Inventory
- Accounts receivable
Commercial Real Estate Loans
Flexible financing plans make it easy to purchase or refinance the properties you want, including:
- Multi unit commercial and/or residential units
- Stand alone commercial buildings
- Owner/non owner occupied
Benefits of our Business Loans
- No prepayment penalty
- Competitive interest rates
- Flexible loan terms
- Easy application process
What Do We Look for in a Borrower?
We understand that all businesses and their owners have different strengths and qualifications. That’s why when evaluating an application we consider many different factors in trying to assist small businesses, including:
- Personal and/or business credit history
- Management experience in the industry in which the loan is sought
- Your ability to contribute a down payment to the project being financed
- Available collateral to support the request
- Ability of the business to repay the loan from earnings
- Feasibility of your business plan with reasonable projections
Who is Eligible to Apply?
Many types of businesses are eligible for business loans. Examples include:
- Chiropractors
- Small Retailers
- Landscapers
- Electricians
- Physicians
- ...and many others
Additional Services
- Business Checking Services
- Business Money Market Account
- Payroll Services
- Business Debit Card
- Merchant Card Service
- Bank At Work Programs Available for Employees
Membership at Leominster Credit Union is easy!
- You must live, work, or have business in Worcester, Middlesex, Norfolk, Hampden, Franklin, or Hampshire Counties in Massachusetts.
- You must maintain a minimum of a $25.00 deposit account.