Express Business Loans
Business needs can happen quickly, just like our Express Business Loans
The Atlantic Federal Credit Union is proud to help our neighboring businesses with access to financing to support their growth and operations.
For business loans meeting the criteria below, we make it easy to submit your application online for quick document transferring, decisioning and funding through our Express Business Loan portal.
Eligibility Criteria
- At least 2 years in business
- 1 year tax returns required
- 1 borrower, 2 guarantors max
Applicable Fees
- $100 application fee
- $350 processing fee (if approved and closed)
- $300 loan documentation fee for non-real estate loans (if approved and closed)
- $500 loan documentation fee for real estate loans (if approved and closed)
Express Business Loan Financing Available
| Type of Loan | Best For | Maximum Loan Amount | Maximum Loan-to-Value Amount | Collateral |
|---|---|---|---|---|
| Line of Credit | Covering business operating expenses | $50,000 | 80% | All assets |
| Term/Equipment Loan | Purchasing equipment to maintain or grow your business | $150,000 | 75% | Equipment |
| Business Vehicle Loan | Purchasing a business vehicle | $150,000 | 100% | Vehicle |
| Residential Commercial Real Estate Loans | Purchasing or refinancing residential investment properties | $399,999 | 80% for purchases and refinancing / 75% for cash-out refinancing | Residential |
Other Financing Options
Interested in a commercial real estate loan or financing above the Express Business Loan limits? We're here to help. Learn about our traditional commercial financing options here. If you have questions, speak with a Business Loan Specialist by calling 908.245.1750 ext. 7531 or emailing BusinessAccounts@atlfedcu.com.
Community Banking At Its Best
The Atlantic Federal Credit Union offers many of the same services as a bank, often with better rates and lower costs. As a not-for-profit financial cooperative, our only priority is meeting the needs of our Members. We pride ourselves on delivering personalized service backed by the latest in digital banking technology so you can bank whenever and wherever is most convenient for you. Plus, we exclusively serve Essex and Union counties in New Jersey, which means your hard-earned deposits are kept secure locally and loans are serviced locally.
Who is Eligible for Membership?
Membership is available to anyone who lives, works, worships, attends school or regularly does business in Union or Essex counties in New Jersey. Businesses and legal entities in Essex or Union counties are also eligible.
Immediate family members of existing members, including your spouse, children, siblings, parents, grandparents, grandchildren, stepchildren, stepparents, stepsiblings and adopted children, are also eligible for Membership. Non-related individuals living in the same household can also qualify.
Not sure if you are eligible? Call us at 908.245.1750.
