We Can Help Your Business Grow
To grow your business, sometimes you need a little help. Expanding your office, or adding a new location? We can help with that. Buying new equipment? We can help with that too. Whatever your situation, a small business loan, or small business credit card might be just what you need. Check out our solutions below.
Business Loan Solutions
One of our local business experts will help you from start to finish.
Commercial & Investment Real Estate Loans
Installment Business Loans
Business Line of Credit
Business Credit Card
Small Business Loan
Start Your Business
Note: Before you start the application process, we recommend you build a plan for your business. This will help the loan application process and be instrumental to you in creating your vision for your business.
BUSINESS LOAN FAQs
If you have a great idea for a business we want to hear it and help you make your dream a reality. We recommend you start by putting a business plan together. This will help you better understand what your next steps might be. Get started building a plan
You will need the following documents:
- Business debt schedule
- Copy of full federal personal tax returns from previous three years if possible
- Copy of full federal business tax returns that you are at least 20% owner of (from previous three years if available)
- Two months of personal and business (if available) bank or credit union statements
Businesses must be for profit and must operate in the United States. Business cannot have more than $15,000,000 in maximum tangible net worth and a two-year average net income after federal income tax of $5,000,000. Business must be able to show that they can repay the loan from existing cash flow.
Qualification to apply does not mean the loan will be approved if these criteria are met. Request must still be underwritten and approved by Honor Credit Union and the SBA.
- Most loan options require a 20 percent down payment or equivalent equity injection if available.
- SBA & USDA loans must comply with program guidelines, but do require a minimum 10 percent down payment or equivalent equity injection.