Business Lending

Business Lending

We are excited to offer our business members a variety of lending solutions:

  • Flexibility- Borrow from $25,000 up to $2,000,000
  • Speed - Get approved within three days
  • Low Fees - Closing fees as low as ½% and no pre-payment penalties
  • Great Rates - We offer highly competitive, risk-based rates
  • No Cost - There is no fee to apply for a loan

Business Loan Products

Business Revolving Line of Credit: A cost-efficient way to finance your business's operating expenses. Your line of credit will be pre-approved and can be accessed as needed or deposited into your LBCU FREE Business Checking Account. The purpose of a line of credit is to provide a business with working capital, seasonal capital, or to purchase or refinance short term assets.

  • Maximum Term: 2 years
  • Amortization: Interest payable monthly and principal balance due at maturity
  • Maximum Amount: Up to $250,000 (unsecured up to $100,000)
  • Fees: Closing fees are typically ½% minimum on amount financed

Business Term Loan: To provide a business with permanent working capital to purchase or refinance long term assets or to make capital improvements to the business.

  • Maximum Term: 10 years
  • Amortization: Principal and interest monthly, fully amortized over the term of the loan
  • Maximum Amount: Up to $1,000,000 (equipment) or $100,000 (vehicle)
  • Fees: Closing fees are typically ½% minimum on amount financed

Commercial Real Estate Mortgage Loans: The purpose of a commercial real estate mortgage loan is to provide a business with the funds to purchase or refinance a commercial property. A commercial real estate loan is one where the primary source of repayment is related to the operation of the business or the sale or operation of real estate. The refinance of a commercial real estate loan may also be used to make capital improvements to the business.

  • Maximum Term: 25 years
  • Amortization: Principal and interest monthly, amortized over the term of the loan
  • Maximum Amount: Up to $2,000,000
  • Fees: Closing fees are typically ½% minimum on amount financed

SBA Loans

We are pleased to announce that Liberty bay Credit Union has been named an “SBA Preferred Lender.” Loans from LBCU are guaranteed by the Small Business Administration. This means a much shorter response time for our valued small business members. Under the Preferred Lenders Program (PLP), high-volume SBA lenders such as Liberty Bay Credit Union are delegated loan approval, closing, and most servicing and liquidation authority, enabling them to make loan decisions more rapidly. To earn the PLP designation, lenders must establish a successful track record and display a thorough understanding of SBA lending policies and procedures.

Advantages of an SBA Program*

  • For-profit businesses that normally do not qualify under conventional lending standards may be eligible to apply under the SBA loan program
  • Lower down payments (as low as 10%)
  • Longer loan terms (up to 25 years) with no balloon provisions

Major types of SBA loans available:

  • 7(a) Loans
  • SBA Express Loans and Lines of Credit
  • Small Loan Advantage (SLA)
  • Export Express
  • SBA 504 Loans

* All applicants are subject to SBA rules and regulations in effect. For additional information, please refer directly to the SBA website at sba.gov. Contact us today for more information on the right loan for your needs.

In addition to your application, you will also need to fill out a resolution at account opening. Download the appropriate resolution for your type of company below.


For more information on how Liberty Bay Credit Union can meet all your business banking needs, please contact:

Paul Gravellese, Vice President Business Solutions
(617) 439-6575 | pgravellese@lbcu.org

Rates are subject to change without notice and are subject to credit approval. Membership required. Certain restrictions apply. See credit union for complete details. Equal opportunity lender.