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  MEMBERS1st Community Credit Union Business Loans

MEMBERS1st Community Credit Union Business Loans

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MEMBERS1st Community Credit Union Business Loans

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in Business Loans from MEMBERS1st Community Credit Union

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MEMBERS1st Community Credit Union Business Loans Review

MEMBERS1st Community Credit Union Business Loans is a business financing offering by MEMBERS1st Community Credit Union, based in Marshalltown, IA. Founded in 1964, MEMBERS1st Community Credit Union offers access to small business loans in 1 state across the USA.

MEMBERS1st Community Credit Union Business Loans FAQ

What are MEMBERS1st Community Credit Union Business Loans’s rates?

MEMBERS1st Community Credit Union Business Loans offers a fixed APR business financing product but they do not disclose their rates.

Does MEMBERS1st Community Credit Union Business Loans charge an origination fee?

Yes, MEMBERS1st Community Credit Union Business Loans charges a loan origination fee.

What types of small business loans does MEMBERS1st Community Credit Union Business Loans offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. MEMBERS1st Community Credit Union Business Loans provides access to the following business loan types:

  • Lines of Credit
  • SBA Loans
  • Commercial Real Estate Loans

Does MEMBERS1st Community Credit Union Business Loans charge prepayment fees?

Yes, MEMBERS1st Community Credit Union Business Loans charges additional fees to borrowers who pay off their small business loans 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 business loan early.

What do you need to qualify for MEMBERS1st Community Credit Union Business Loans?

MEMBERS1st Community Credit Union Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 600 and up to 850 may be eligible for MEMBERS1st Community Credit Union Business Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via MEMBERS1st Community Credit Union Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by MEMBERS1st Community Credit Union Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

Does MEMBERS1st Community Credit Union Business Loans report your account activity to credit bureaus?

Yes, MEMBERS1st Community Credit Union Business Loans reports your account activity to the following credit reporting agencies:

  • 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 improve your credit.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:30am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by MEMBERS1st Community Credit Union

Availability

  Available in 1 state
Iowa
Availabile in all of Iowa

Feature Breakdown

NSF Fee $29
Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Driver License (or other photo ID)
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options Automatic Payments

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