Business Loans

Business Banking  /  Business Loans

Funding and Growing Your Business

Homefield Credit Union has a heart for small businesses, the unique challenges they face, and the personalized attention needed from experienced professionals in order to help them thrive. We offer a variety of lending products that provide the capital required for your specific initiatives.

Term Loans

Our term loans are designed to assist you with high-dollar expenditures, such as for renovations, or for the purchase of equipment or other assets.

Purpose Acquisition of equipment and vehicles
Term 5 to 7 years
Rate Fixed for the life of the loan

Lines of Credit

To operate smoothly, small businesses often require quick and easy access to capital to help manage short-term needs, such as accounts receivable, supplies, inventory, and more. Our lines of credit are an excellent way to help bridge these gaps.

Purpose Short-term working capital, such as accounts receivable, inventory, materials
Term 12 months, renewable with annual review
Rate Variable

Business Real Estate Mortgages

Homefield Credit Union offers secured business mortgages for larger, long-term small business needs, such as purchases, expansions, improvements, or refinancing of existing or ballooning mortgages.

Purpose Purchasing, renovation or refinancing an existing property
Term 25 years
Rate Variable

Business Overdraft Loans

Small businesses often rely on business cash reserve loans to provide overdraft protection on the checks they write from our business checking accounts.

Purpose Overdraft protection
Term 12 months, renewable with annual review
Rate Variable
Min. / Max. Amount $1,000 / $10,000

SBA Loans

SBA loans can assist small businesses that may not qualify for conventional lending programs, and can be used for the purchase of equipment, supplies, leasehold improvements, refinancing of non-SBA related debt, or can even be used for starting a business.

Find out how the Homefield Advantage can assist your business by contacting Jennifer Marble, SVP-Lending or Kevin Berube, VP-Lending at 508-839-5493.