Last Updated: 04/18/2025
Leominster CU Business Term Loans
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Last Updated: 04/18/2025
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Highlights
Amount Range
N/A
APR (Variable APR)
N/A
Loan Term (Months)
Up to 120
Leominster CU Business Term Loans Review
Leominster CU Business Term Loans is a business financing offering by Leominster Credit Union, based in Leominster, MA. Founded in 1954, Leominster Credit Union offers access to small business loans in 50 states (and Washington, DC).
Leominster CU Business Term Loans FAQ
What are Leominster CU Business Term Loans rates?
Leominster CU Business Term Loans offers a variable APR business financing product but they do not disclose their rates.
Does Leominster CU Business Term Loans charge an origination fee?
Yes, Leominster CU Business Term Loans charges a loan origination fee .
Does Leominster CU Business Term Loans charge prepayment fees?
Yes, Leominster CU Business Term Loans may charge additional fees to borrowers who pay off their small business loans sooner than anticipated. Take this into consideration when choosing a business loan product because prepayment penalties can reduce or even cancel the interest savings of repaying a business loan early.What is the maximum business loan term you can get with Leominster CU Business Term Loans?
Leominster CU Business Term Loans offers small business loans with a maximum term of 120 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for Leominster CU Business Term Loans?
Leominster CU Business Term Loans requires companies to be in business for at least month
Leominster CU Business Term Loans does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher. U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Leominster CU Business Term Loans.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Business formation documents
- Business financial statements
- Driver's license or other government photo ID
- Proof of identity
- Proof of citizenship or residence permit
Does Leominster CU Business Term Loans report your account activity to credit bureaus?
Yes, Leominster CU Business Term Loans 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 Leominster Credit Union perform a hard credit pull?
Yes, Leominster CU Business Term Loans 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.
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Hours of Operation
Sunday
Closed
Monday
8:30AM - 5:00PM
Tuesday
8:30AM - 5:00PM
Wednesday
8:30AM - 5:00PM
Thursday
8:30AM - 6:00PM
Friday
8:30AM - 5:00PM
Saturday
8:30AM - 12:00PM