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can I get a business loan at a credit union?

I want to take business away from the banksters. But I have a big business loan, and the banksters try to force you to move all of your accounts to them if you want a business loan.

If credit unions would do those loans, it would be easier to vote with our wallets.

dicrisci asked in Personal Finance 6 months ago | Report

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  • Min-wage_small
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    I know that both BECU and SMCU offer small business accounts and loans. I'm assuming that most credit unions also offer small business loans. Have you asked any credit unions if they can help you?

    You have to remember that even the biggest credit unions, like BECU, are tiny compared to the big banks. They are generally geared to individual accounts, so I think they are more likely to help a current member get a loan to open a small business or buy a house or car. Also credit unions do not offer as much credit as banks in my experience, so I imagine the same would be true with business loans. If you have something to put up as collateral for the loan, I think you would have a better chance with a credit union.

    As a credit union member, I'm glad they are more prudent than the big banks in extending credit.

    asteria answered in Personal Finance 6 months ago | Report
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