Business Lending
New England Federal Credit Union offers Business Lending, a service designed to assist established local businesses, sole proprietorships, and professionals in today's business environment.
Learn more about Rob and Patrick.
Contact us at 866-80-LOANS.
We offer the following commercial loan products:
NEW! Business Equity Plus Our new Business Equity Plus product offers individuals or business owners the ability to tap into unused equity related to 1-4 unit residential real estate and commercial properties.
Use your equity to assist in the purchase of other properties, fund business working capital needs, acquire equipment/machinery (100% financing possible), and finance property construction costs.
No prepayment penalty – ever!
Real-Estate Term Loans
- Loan amounts based on appraised value or purchase price
- Up to 80% in financing for owner-occupied properties and up to 75% in financing available for non-owner-occupied properties
- 10-year maximum fixed interest rate loan term possible
- 20-year maximum amortization
Machinery/ Equipment/ Vehicle Term Loans
- Up to 90% financing on new or used vehicle purchases
- Up to 80% financing on new or used machinery/equipment purchases
- Refinancing of high-interest rate loans or leases
- 7-year maximum loan term and amortization
Lines Of Credit
- Up to 80% in financing for owner-occupied properties and up to 75% in financing available for non-owner-occupied properties
- Lines of credit possible against unencumbered machinery, equipment, NEFCU deposit accounts, and NEFCU Certificates of Deposit
- 2-year maximum loan term, depending on collateral
Time (or Demand) Notes
- Loan amount determined based on collateral offered such as real estate, machinery, or equipment
- 1-year maximum loan term (NOTE: Time Notes with maturities of 90 days or more require members to make monthly interest-only payments)
For your commercial loan needs, why go anywhere else? Contact us at 866-80-LOANS.
Helpful Info for Your Business
- Questions about writing a business plan? Go to the United States Small Business Administration's site at www.sba.gov and type in the words “business plan” in the website's SEARCH tool and hit “ENTER”.
- Interested in the latest economic news and data such as the present Consumer Price Index (CPI), wages by area and occupation, or the unemployment rate? Visit the U. S. Department of Labor Bureau of Labor Statistics site at www.stats.bls.gov.
- As a Vermont business owner or someone thinking about establishing a business in Vermont, you may want to access the Vermont Department Of Economic Development's web site at www.thinkvermont.com.
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