
Navy Federal Credit Union Business Loan
Not enough votes for recommendation
Explore a similar product
Try this top product in Business Loans.
Loan Amount | N/A |
APR (Fixed APR) | N/A |
Loan Term (Months) | N/A |
Navy Federal Credit Union Business Loan Review
Navy Federal business loan is a business financing offering by Navy Federal Credit Union, based in Vienna, VA. Founded in 1933, Navy Federal Credit Union offers access to small business loans in 50 states (and Washington, DC).
Navy Federal business loan FAQ
What are Navy Federal business loan’s rates?
Navy Federal business loan offers a fixed APR business financing product but they do not disclose their rates.
Does Navy Federal business loan charge an origination fee?
Yes, Navy Federal business loan charges a loan origination fee of $150
What limitations does Navy Federal business loan set on the purpose of the business loan?
Navy Federal business loan considers business loan applications for business purposes, such as:
- Equipment Purchase
- Inventory
- Lease Improvement
- Product or Service Expansion
- Technology Investment
- Working capital
What types of small business loans does Navy Federal business loan 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. Navy Federal business loan provides access to the following business loan types:
- Secured Term Business Loans
Does Navy Federal business loan charge prepayment fees?
No, Navy Federal business loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.
What do you need to qualify for Navy Federal Credit Union Business Loan?
Navy Federal Credit Union Business Loan 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 Navy Federal Credit Union Business Loan. 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 Navy Federal Credit Union Business Loan. Their rates fall within the limits of The Military Lending Act.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Navy Federal Credit Union Business Loan.
To qualify, applicants may need to provide the following documentation:
- Recent bank statements
- Business formation documents
- Driver's license
- Government issued photo ID
- Proof of identity
Does Navy Federal Credit Union Business Loan report your account activity to credit bureaus?
Yes, Navy Federal Credit Union Business Loan 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.
Contact
- Headquarters
-
820 Follin Ln SE
Vienna, VA 22180 USA - Visit Site
- Email Support
Other Services by Navy Federal Credit Union
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
No Prepayment Fee | |
Origination Fee ($) | $150 |
Be the first to rate
Would you recommend Navy Federal Credit Union Business Loan to your friends?
- Bank of America Business Advantage Term Loan
- Biz2Credit Business Loans
- Century Bank of Massachusetts SBA Loans
- Financial Pacific Leasing
- Forward Financing
- IOU Central Small Business Loans
- KeyBank Business Term Loans
- LenCred Small Business Loans
- Metro City Bank SBA Loans
- One Park Financial
- Square Capital Small Business Loans
- eProdigy Financial Business Loans