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 ventures
  • ✔️ Light manufacturing operations
  • ✔️ Certified Minority-Owned Businesses (MBE)
  • ✔️ Self-employed individuals

Small Business Loans can be used to:

  • ✔️ Purchase inventory, supplies, or materials
  • ✔️ Acquire and/or improve machinery, equipment, or real estate
  • ✔️ Provide working capital for growing businesses
 
 
 

Types of Small Business Loans by Amount

 

    • 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

    • 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 *Up to $50,000.00 | Up to 7 Years8

    • 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 *Up to $250,000.00 | Up to 7 Years

 
 
 

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 and Personal Tax Returns of all business owners (last 3 years)
  • ✔️ Business 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.

 
 
 
 
 

Small Business Loan – ERP

 

The Small Business ERP Grant is designed to support our members by offering affordable credit and financial assistance.

To qualify, applicants must:

  • ✔️ Be a member of LES People’s FCU with both savings and checking accounts
  • ✔️ Meet the loan eligibility requirements under current underwriting policies

For small businesses (including those with ITINs), we offer:

  • ✔️ Loans of up to $50,000
  • ✔️ No minimum credit score required

Funding is limited, so don’t miss your chance to grow your business with the support of your credit union.