Everyone knows COVID-19 took a large toll on local communities and businesses. But, with restrictions relaxing across Louisiana and vaccines becoming more readily available, now is the time to come back even stronger! It’s a chance to reconnect with customers and even find new ones. At Essential FCU, we are dedicated to supporting businesses as they take the next steps and rebound in 2021. And this includes offering business loans in Central Louisiana that can help businesses hit the ground running. Learn more about the business loans available at Essential FCU. And find out how they could make the most sense for you and your business.
Explore Our Business Loans
Whether you experienced setbacks in 2020 or found ways to make your business even more effective, Essential FCU can offer financial assistance to help you achieve more in 2021. We offer a variety of business loans that can offer the financial support many businesses need to address several needs, such as short-term financial assistance, SBA-guaranteed loans, and even term loans for business expansion. So, take a look at the loans we offer to find the choice that may be the best fit for your business.
Business Lines of Credit
Ideal for short-term financial assistance, this loan helps keep up with inventory purchase and payroll demands. It offers flexibility and can provide you with fast access to cash when your business needs it.
Commercial Owner Occupied Real Estate Loans
When you want to purchase your business’ building, this loan can help you do it. As a building owner, you can gain equity with mortgage payments. And, asset appreciation can raise the value’s property over time. In addition, you can have control over everything from property maintenance and improvements to increases in leasing rates for renters.
Small Business Administration Loans can be a huge help when navigating rough patches. They can provide the monetary support many businesses need to get back on top. Essential FCU offers two types of SBA Loans:
- 7(a) Loans—These are loans of up to $5 million for small businesses with a 75% SBA Guarantee.
- Express Loans—When a business needs funds fast, an express loan can provide support quickly. Applications receive responses within 72 hours, and businesses can receive loans or lines of credit of up to $350,000 with a 50% SBA Guarantee.
Term Loans for Business Expansion
When you need capital for expansion, this loan can make the difference. It can help with everything from inventory purchases to hiring new staff, product development, and opening at a new location.
Find Business Loans in Central Louisiana With Essential FCU
Sometimes the biggest obstacle standing between a business and success is the need to find the capital to grow. At Essential FCU, we work with businesses to help them receive the loans that could benefit them best. If you believe these services could benefit your business, get in touch with us! Call 225-353-8238 or visit our contact page to learn more about the business loans we offer. Let us help your business come back stronger in 2021.