The day will come when you realize that all the late hours, sacrifice, and hard work you’ve put into your business has finally paid off. Now it’s time to rethink your strategy to remain ahead of the competition. Whether this translates into expanding your space, increasing your inventory, purchasing equipment or a combination of all of these things, HVFCU offers several loan options to help you grow your business.
Selecting a commercial mortgage for your expanding business is a big decision. That’s why it is important that it’s the right fit for your financing needs. You’ll find our commercial mortgage options are some of the most competitive in the market, offering:
- Competitive rates
- No pre-payment/payoff penalties
- 15-year term, up to 25-year amortization
- Owner and non-owner occupied financing
- Local decisioning
We offer financing on a variety of commercial properties, including business investment properties, construction mortgages, and investment properties. Meet our Business Loan Officers who can help you with all your questions regarding commercial real estate loans.
Business Line of Credit
Available to help manage short-term working capital needs such as seasonal purchases, payroll, or inventory. Variable interest rate line lets you borrow, repay, and borrow again – when you need it. Collateral may include business assets, cash, or unencumbered, improved real estate.
Business Credit Card
Use your Visa Platinum Credit Card with Rewards to make purchases with ease.
- Track and simplify expense records
- Add authorized users to empower your employees to access your credit line
- Receive merchant discounts with Visa SavingsEdge
- Credit line available up to $50,000
- Complete our Business Loan Application and return it to our nearest branch
- View our Business Visa Platinum Credit Card Account Opening Disclosure and Business Visa Platinum Agreement and Disclosure for more information
- A convenient way to get the financing your business needs to grow, with loan amounts available from $25,000 to $750,000
- Purchase equipment (including medical equipment), inventory, or a vehicle
- Helps replenish working capital
Overdraft Lines of Credit
- Add protection to your Value Business Checking or Enhanced Business Checking account
Letters of Credit
- Guarantee payment as needed in conjunction with a cash secured line of credit
- Use for proceeds marked for commercial, corporate, business investment property, business venture, or agricultural purposes
- Use your qualified securities as collateral for either a line of credit or term loan from $5,000 to $500,000
- Option of line of credit or term loan
Applying for a Loan
All of our business loans are processed by our Business Services Department. If you have any questions or request additional information please email us or stop by any one of local branches. If you are ready to submit your loan application, please submit our Business Loan Application, along with the required information listed, to your nearest branch.
To assist with the loan process, please refer to our Business Loan Checklist when applying for a loan.
SBA 504 Loans
All businesses, including those businesses that have been in operation for less than two years, may qualify for a loan through the United States Small Business Administration. HVFCU can process loans through the SBA 504 Loan Program by working with Certified Development Companies throughout the Hudson Valley.
This program is designed to help growing businesses:
- Acquire fixed assets including land, buildings, or equipment to help expand their business operations
- Create new jobs
- Reduce out-of-pocket expenses
Under this program, projects costs are as follows:
- HVFCU lends 50%
- SBA lends 35-40%
- Borrowing business provides remaining 10-15%
Save your business money the hassle-free way with Visa SavingsEdge. Simply make qualifying1 purchases with your enrolled HVFCU business credit card and save automatically at many places you may already do business, such as:
- Days Inn
- Advance Auto Parts
- Red Robin
Your discounts will appear as credits on future account statements. It couldn’t be simpler.
Visit visasavingsedge.com to enroll and to see an updated list of participating merchants.
1 Visa SavingsEdge is an automated discount program offered by Visa U.S.A. Inc. to eligible businesses and their authorized cardholders that hold an eligible Visa Business card and whose enrollment in the program is accepted by Visa. Under the program, cardholders can receive discounts from participating merchants each time the cardholder uses an enrolled Visa Business card for qualifying purchases of goods or services pursuant to an active discount offered by the merchant and that transaction is processed or submitted through the Visa payment system. Visa may modify, restrict, limit or change the program in any way and at any time. Visa reserves the right at any time to suspend or cancel the program. Visa also reserves the right to suspend or cancel any cardholder’s participation in the program. Enrolled cardholders will only receive discounts for qualifying purchases that are in full compliance with the terms of the applicable discount offer. Discount offers may be subject to additional terms and conditions. Discount offers may be removed from the program at any time and are subject to availability. Discount offers are also subject to any applicable law or regulation that may restrict or prohibit certain sales. Discounts will not appear on a cardholder’s receipt at the point of sale. Discounts are provided in the form of credits posted to the cardholder’s applicable Visa Business card account. Please visit www.visasavingsedge.com for complete details on the program, including the program terms and conditions. © 2011 Visa. All Rights Reserved.