Small Business Loans

What Kind of Small Business Loan Meets Your Needs?

LES People’s FCU offers a wide range of loan products for entrepreneurs operating retail businesses, restaurants, service and wholesale businesses, e-commerce, light manufacturers, Certified Minority-Owned Businesses (MBE), Self-Employed etc.

Small Business Loans can be used to:

  • Purchase inventory, supplies or materials

  • Acquire and/or improvement of machinery, equipment or real estate

  • Provide working Capital for growing businesses

Type of Small Business Loans by Amount

  • Start-up Business Loan | Up to $2,500.00* | Up to 7 Years
    LES PEOPLE’S offers loans to start-up businesses (less than 2 years in operation) for equipment, inventory working capital, capital improvement, and other purposes. Equity Requirement: owner’s cash equity

  • Business Line of Credit (SBA and non-SBA) | Up to $50,000.00 | 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

  • SBA Express Small Business Loan | Up to $250,000.00 | 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 $250,000.00 | 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

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

Apply for Small Business Loans

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

  • Complete Business Loan Application

  • Complete and submit 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)

See our current Business Rates & Fees

Calculate your Payment

Contact one of our Member Service Representatives if you have additional questions at (212) 529-8197 or by emailing lespfcu@lespfcu.org.