Last Updated: 04/18/2025
Consumers Credit Union Business Lines of Credit
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Last Updated: 04/18/2025
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Highlights
APR (Variable APR)
Starting at 1.5%(Verified 06/21/2024)
Disclaimer popup with additional information
Credit Score Range
700 - 840
Amount Range
Starting at $50,000
Consumers Credit Union Business Lines of Credit Review
Consumers Credit Union Business Lines of Credit is offered by Consumers Credit Union, a credit union founded in 1930 and based in Lake Forest, IL. Consumers Credit Union Business Lines of Credit are available in states.
Consumers Credit Union Business Lines of Credit FAQ
What APRs does Consumers Credit Union Business Lines of Credit offer?
Consumers Credit Union Business Lines of Credit offers a variable APR that starts at 1.5% APR.
Does Consumers Credit Union Business Lines of Credit charge an origination fee?
Yes, Consumers Credit Union Business Lines of Credit charges an origination fee.
Does Consumers Credit Union Business Lines of Credit charge a late fee?
Yes, Consumers Credit Union Business Lines of Credit charges borrowers with a late payment fee of up to $25 .Does Consumers Credit Union Business Lines of Credit charge prepayment fees?
Yes, Consumers Credit Union Business Lines of Credit charges additional fees to borrowers who pay off their lines of credit sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a line of credit early.How much can you borrow from Consumers Credit Union Business Lines of Credit?
Line of credit amounts start at $50,000 .
What do you need to qualify for Consumers Credit Union Business Lines of Credit?
Applicants with a credit score of at least 700 and up to 840 may be eligible for Consumers Credit Union Business Lines of Credit. Consumers Credit Union Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Consumers Credit Union Business Lines of Credit.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Bank account information
- Business formation documents
- Proof of insurance
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
What are the business financing requirements for Consumers Credit Union Business Lines of Credit?
To apply for Consumers Credit Union Business Lines of Credit, the applicant needs to provide the following documentation:
- Personal guarantee.
- Business license
- Business bank account
Does Consumers Credit Union Business Lines of Credit report your account activity to credit bureaus?
Yes, Consumers Credit Union Business Lines of Credit reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Consumers Credit Union perform a hard credit pull?
Yes, Consumers Credit Union Business Lines of Credit performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
What is the minimum percentage of business ownership that Consumers Credit Union Business Lines of Credit requirs from the applicant?
To apply for Consumers Credit Union Business Lines of Credit, the applicant needs to have at least 20% of business ownership. If you don't have enough ownership in the company, your application will most likely be denied from the Consumers Credit Union.
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Message from Consumers Credit Union Business Lines of Credit
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 1:00PM