Business Loans

The Greater Cleveland Community Credit Union recognizes businesses are the backbone of our community. We work with our business members to understand their financial needs and offer a range of credit options for their benefit. The maximum initial unsecured business loan amount is$20,000.

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Business Signature Loan and Signature Loan Line of Credit (LOC)

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Both the Business Signature Loan and LOC are fixed-rate, fixed-term loans that can be used for any purpose related running the business including furniture, fixtures, equipment, supplies and working capital expenses The maximum unsecured loan amount is $10,000.00 based on our loan underwriting review.  The LOC loan works best for the member looking to manage when and how much of the approved loan funds they draw down at a time. The LOC is open until closed by the member and it costs nothing until the funds are drawn.

 

Business Share Secured Loan/Shared Secured LOC

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Business Shared Secured Loans have guaranteed loan approval and no credit report is pulled because money sufficient to cover the loan in a Regular Savings account or Non-IRA CD is 100% pledged with a restrictive hold place on the account. Business Share Secured Loans have terms of up to 3 years with a maximum loan amount of $30,000. The term also cannot exceed the term of the CD pledged. This loan interest charged is 6.00%. The Business Shared Secured Loan is suitable for a business looking to borrow at one of our lowest rates, and maintain their deposits while still having access to the money they need to operate and grow.