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Commercial Services

Frequently Asked Questions

How will Remote Deposit benefit my business?

You can eliminate time consuming manual deposit preparation and trips to the bank, while improving the speed and efficiency of both collections and returns.

What are the benefits of online business banking? 

Our online Business Banking services are exclusively designed to give owners 24/7 access to the tools needed to run your business efficiently. Our online Cash Management tab lets you initiate online wires and ACH (upon approval) from your home or office which allows you to maintain focus on your business.

Do you offer business loans?

Greater Nevada offers a wide variety of business loans for varying purposes. Our team of business lending professionals tries to match the loans offered to your individual business needs rather than trying to fit you into a lending box. Please contact Greater Nevada Credit Union for more information on how we may assist you with your commercial lending needs.

How do I apply for a business loan?

Business loans are conducted through GNCU's subsidiary, Greater Commercial Lending (GCL). Click here to learn about the various commerical loan options and to contact the GCL team to start the loan process.

What can I expect in the Commercial Loan underwriting process?

After you submit your loan application, you can expect the Business Services team to place your request in the loan application pipeline. An assigned underwriter will review your request along with any backup paperwork submitted. There are frequently  follow-up questions and/or additional information required to complete the request. When all the information is received, the loan officer will complete the write-up. When the write-up is complete, it will be submitted to the proper authority for final approval. When your request has been approved, you will be contacted by your loan officer with the terms of your request. If you accept the terms, the loan will move into closing where we contact any agencies necessary to properly secure any collateral and the documents will be drawn. Once the loan is ready for closing, you will be contacted to sign documents. Funding will commence once all the proper documentation is perfected.

How do Commercial Loans differ from Consumer Loans?

The commercial loan process is quite a bit more detailed than the consumer loan process. We review both the business’ capacity to service the debt along with the personal character of major stakeholders in the business. For these reasons, as well as the fact that business loans are typically larger than consumer loans, the process to receive funds is usually longer than the process to receive a consumer loan. You can help shorten the length of the underwriting process by submitting a complete application packet and by promptly responding to any requests for additional information. 

Commercial loans are intended to be a partnership between you, your business and your lending institution; therefore, you can expect regular collection of updated financial information as well as regular contact with your loan officer even after the loan has funded. Overall, our goal is to ensure we create a viable partnership for the long term health of your business.

Does Greater Nevada Credit Union offer guaranteed loans?

Yes, GNCU works with a variety of governmental agencies to offer loans with guarantees. These guarantees often strengthen a request we would otherwise have to decline which allows you to secure the funds necessary for your business as well as offering other potential benefits dependent upon the program. Our loan specialists have the expertise to identify specific programs to assist you with your commercial capital needs.

What type of Commercial Loans are offered?

GNCU offers lines of credit, long-term loans, short-term loans and construction loans.