Small Business Loans

What kind of Small Business loan meets your needs?

photo: Waiter and waitress at a cafeLES People’s Federal Credit Union offers a wide range of loan products for entrepreneurs operating retail businesses, restaurants, service and wholesale businesses, and light manufacturers.

These loans can be used for:

  • Purchase inventory, supplies or materials
  • Acquire and/or improvement of machinery, equipment or real estate
  • Provide working Capital for growing businesses

SBA Express Small Business Loan | Up to $250,000 | Up to 7 Years

LES PEOPLE’S partners with the Small Business Administration (SBA) to offer loans through its SBA Express loan program, which provides an accelerated 36-hour turnaround time for SBA review.

Loans are made to operating businesses for equipment, inventory, working capital, capital improvement and other purposes. Equity Requirement: owner’s cash equity. Collateral/co-signer need determined on a case-by-case basis.

Small Business Loan (non-SBA) | Up to $250,000 | Up to 7 Years

LES PEOPLE’S offers loans to operating businesses for equipment, inventory, working capital, capital improvement and other purposes. Equity Requirement: owner’s cash equity. Collateral/co-signer need determined on a case-by-case basis.

Business Line of Credit (SBA and non-SBA) | Up to $50,000 | Up to 7 Years

LES PEOPLE’S offers business lines of credit to operating businesses which need working capital for seasonality or expansion purposes. Loan terms can go up to 7 years. Equity Requirement: owner’s cash equity. Collateral/co-signer need determined on a case-by-case basis.

Start-up Business Loan | Up to $2,500* | Up to 7 Years

LES PEOPLE’S offers loans to start-up businesses (less than 2 years old) for equipment, inventory working capital, capital improvement and other purposes. Equity Requirement: owner’s cash equity.

*Larger loan amounts require adequate collateral AND a co-signer, in addition to owner’s cash equity.

Requirements for Small Business Loans

To apply for a LES People’s Small Business Loan, applicants must provide the following:

  • Small Business Application Form LESPFCU Business Loan Application
  • Business Plan Questionnaire or Prepared Business Plan
  • Business Tax Returns and Personal Tax Returns of all business owners (last 3 years)
  • Business Financial Statements and Personal Financial Statement of all business owners (last 3 years)
  • Financial Projections (3 years)

Business Rates & Fees

Contact our Business Representatives if you have additional questions at 212-529-8197 ext. 131 or agarcia@lespfcu.org

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