Business Loans

You’ve got big plans for your business. We’ve got the business loans–and the competitive rates–you need to see those plans through. Learn how we support organizations like yours with essential business banking services.

Types of Credit Union Business Loans

Credit union business loans typically offer members better rates, fewer fees, and more advantageous terms. Whether you’re looking for long or short-term loans, credit lines, or credit cards, we offer options to fit every business and business strategy.

SBA Loans

Government-backed Small Business Administration (SBA) loans offer flexible repayment terms. Their competitive interest rates and low fees are perfect for small business owners. Learn more about eligibility requirements below.

SBA Loans

USDA Loans

U.S. Department of Agriculture (USDA) loans aren’t just for agriculture-based businesses. They were created with rural businesses in mind (including non-profits) and in order to qualify, you must be located in a rural area with 50,000 or fewer residents. Learn more about USDA loan options below.

USDA Business Loans

Business Lines of Credit

Business lines of credit offer easy and flexible access to cash as you need it to help position your business for success in the long-term. Learn more about your options and loan requirements below.

Business Line of Credit

Business Credit Cards

Easily manage expenses, enjoy contactless payments, and make fast mobile payments with any card you choose–they all come with the same great features courtesy of our credit union (plus competitive rates and cash back perks). Learn more about business credit card options below.

Business Credit Cards

Loans from Credit Unions & Banks: Know the Difference

Applying for a business loan with a credit union is a different experience than applying with a traditional bank. Take advantage of better terms and rates, plus enjoy personalized service from a team that’s helped thousands of businesses like yours get closer to their goals.

Each business loan has its own requirements, repayment terms, and expectations. But while the application may look different depending on the financing option you’re after, you can rest easy knowing our team is standing by to help you navigate the process.

Determine Business Needs

Maybe you already know what your business needs. But do you know how well-equipped you are to repay funds you borrow? Pay close attention to your cash flow and working capital–these will help you understand what loans are safely within your reach.

Compare Loan Types

Many of the most common business loans in Nevada are designed to support rural, non-profit, or otherwise disadvantaged businesses: USDA and SBA loans, for example. Be sure to look at eligibility requirements as you compare your options.

Terms of Agreement

It’s well worth your time to carefully review the terms of agreement–that is, the terms upon which you agree to repay your loan. We’ll walk you through these terms to ensure you’re comfortable with the option you’ve chosen.

Apply for a Loan or Credit

The final step is preparing your application. We’ll ask you to gather basic information about yourself and your business, as well as a few key documents needed to verify your financial information.

How do I qualify for a business loan?

Each loan has different eligibility requirements. For example, if you’re applying for a USDA loan, you must be located in a rural area with 50,000 or fewer residents, since that loan is designed specifically to support businesses in rural communities. In general, you must have a decent credit score and the ability to demonstrate that you’re running your business in accordance with the requirements of that loan. You can see Greater Nevada Credit Union’s loan application requirement checklist here.

Is it better to get a business loan from a bank or credit union?

It depends on your business and your funding needs, but in general, business loans through credit unions (like us) offer better interest rates. We’re able to offer these rates because we use our profits to offer financial products and programs that directly benefit members as a not-for-profit.

How much deposit do I need for a business loan?

Generally speaking, lenders ask that small business owners put down 10% to 30%. Deposit requirements vary by lender and can be affected by the amount you’re looking to borrow.

Real Members, Real Impact

We are a community of people who are committed to helping each other. Our Live Greater Stories series highlights the passions, lives, and businesses of our members, and the ways in which we helped them meet their goals and fulfill their dreams.

Live Greater Stories