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IBM Southeast EFCU offers a variety of Business Loan Products to meet your needs.     
 

Business Line of Credit:*

• Credit Lines up to $100,000 and interest only payments
• Availability of cash for short term cash flow needs

Standby Letter of Credit:*

• Standby Letters up to $100,000
• Assurance your business will fulfill its contractual obligations
• Save money by keeping your cash reserves

Executive Platinum VISA Credit Card:*

• Credit Lines up to $50,000
• Keep business expenses off of personal credit cards
• Convenient purchase option, save time and money on checks

Business Term Loan:*

• Unsecured Loans up to $100,000 for 36 months
• Secured Loans up to $250,000 for 60 months
• Convenient fixed rate interest and save cash reserves
• Spread purchase price over the life of the asset

Business Mortgage Loan:*

• Loans up to $1,000,000 to purchase or refinance commercial real estate
• Build equity in your business
• Save on rent payments
• Take control of your business facility

*Through strategic alliances, we are able to offer our Members business loans up to $5 million. Some loan offerings are available only through Newtek Small Business Finance.


Download our Business Loan Application today (fax completed applications to 561.982.8687):

• Business Loan less than $50,000     
• Business Loan $50,000 or greater and you will need to complete a Personal Financial Statement
  
  Or contact a Business Services Advisor at 800.873.5100, 561.982.4700, business_services@ibmsecu.org, or at branch near you.
   

Business Loan Type	Rate Structure	Application Fee*	Loan Closing Fee**
Business Line of Credit Credit lines up to $100,000 Secured or unsecured Interest only payments	Prime+.50% to Prime+4.00%, Rate changes monthly***	$75	$350 - $2,000
Business Term Loan Unsecured loans up to $100,000 Unsecured loans up to 36 months Secured loans up to $250,000 Secured loans up to 60 months	Secured Loans:*** 36 mos 4.75% 60 mos 6.13% Unsecured Loans: 36 mos 7.13%	$75	$0 - $3,750
Business Mortgage Loan Loans up to $1 Million Secured by commercial real estate Owner-occupied:     20 yr amortization with 10 yr     balloon Non-owner occupied:     15 yr amortization with 5 yr     balloon	Variable*** Prime-.50% to Prime+2.50%, Rate changes annually Fixed*** Owner Occupied: 6.43% 10 yr Balloon Non-Owner Occupied: 5.88% 5 yr Balloon	$75	$500 - $10,000 Owner and Non-owner occupied
Executive Platinum VISA Credit Card Credit lines up to $50,000 Unsecured Minimum payment: 2% of balance	Prime+5.00% to Prime+6.00%, Rate changes monthly***	$0.00	$0.00
Standby Letter of Credit Standby letters up to $100,000 Secured or unsecured One year term Payments begin when letter is     activated	Prime+.50% to Prime+4.00%, Rate changes monthly***	$75	$350 - $2,000

*Non-Refundable, Non-Negotiable
**Negotiable based on Credit Union relationship; fee may be financed into loan.
***Variable rates will be on higher end of range and fixed rates will be .50% higher than posted rates for businesses open 2 years or less.

RATES and FEES EFFECTIVE 11/01/2009
Prime rate index at effective date: 3.25%

Business Loan Fee Schedule