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Business Loan Rates
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Grow Your Business!

Whether you are in need of a vehicle, real estate, or simply a credit card for everyday business expenses, look no further than your credit union! For more information, contact Jim (NMLS# 405270) at JMcClain@ICCUonline.com or 989.773.5927 ext. 230.

New Untitled Light/Heavy Duty Vehicles
Effective Date: December 21, 2016
TermRate
Up to 60 Months as low as 3.84% APR
61 to 66 Months as low as 3.84% APR
67 to 72 Months as low as 4.54% APR

Up to 100% financing available to qualified applicants provided the vehicle is a car, van, pick-up truck, or sports utility vehicle and not part of a fleet. Up to 80% financing available for heavy trucks, fleet vehicles, or other titled vehicles. A documentation fee may apply. A higher rate or shorter term may apply if applicant does not qualify. Credit is subject to approval. Rates based on credit score. Rates, terms, and conditions are subject to change at any time.

Loan Payment Example: The monthly payment per $1,000 borrowed at 4.29% APR for a term of 36 months would require 36 monthly payments of $29.66 based on 30 days to first payment.

Used Light/Heavy Duty Vehicles
Effective Date: December 21, 2016
Up to 5 model years old
TermAnnual Percentage Rate (APR)
Up to 60 Months as low as 4.84%

Up to 100% financing available to qualified applicants provided the vehicle is a car, van, pick-up truck, or sports utility vehicle and not part of a fleet. Up to 80% financing available for heavy trucks, fleet vehicles, or other titled vehicles. A documentation fee may apply. A higher rate or shorter term may apply if applicant does not qualify. Credit is subject to approval. Rates based on credit score. Rates, terms, and conditions are subject to change at any time.

Loan Payment Example: The monthly payment per $1,000 borrowed at 4.59% APR for a term of 36 months would require 36 monthly payments of $29.79 based on 30 days to first payment.

All Other Secured Loans
Effective Date: December 21, 2016
Equipment and Vehicles over 5 model years old
TermAnnual Percentage Rate (APR)
Up to 60 Months as low as 7.70% APR
61 to 84 Months as low as 7.70% APR

Up to 100% financing available to qualified applicants provided the vehicle is a car, van, pick-up truck, or sports utility vehicle and not part of a fleet. Up to 80% financing available for heavy trucks, fleet vehicles, or other titled vehicles. A documentation fee may apply. A higher rate or shorter term may apply if applicant does not qualify. Credit is subject to approval. Rates based on credit score. Rates, terms, and conditions are subject to change at any time.

Loan Payment Example: The monthly payment per $1,000 borrowed at 7.70% APR for a term of 36 months would require 36 monthly payments of $31.20 based on 30 days to first payment.

Commercial Credit Card
Effective Date: December 21, 2016
Loan TypeAmountAnnual Percentage Rate (APR)
Commercial Credit Card $1,000 to $20,000 8.75% APR Variable Rate
$50.00 application fee at closing (currently waived). $50.00 annual fee. $250.00 Underwriting and Documentation Fee (1 cardholder, $25.00 for each additional cardholder) to be collected at closing. Variable rate is subject to change on the 1st of each month. Rate is based on the Wall Street Journal (WSJ) Prime Rate, plus 5.00%. Floor rate is 7.00% with a ceiling rate of 18.00%. Credit is subject to approval. Rates, terms, and conditions are subject to change at any time. ICCU will not automatically increase your interest rate except in cases of severe delinquency (60 days past due).

Real Estate Secured Line of Credit
Effective Date: December 21, 2016
Loan TypeAmountAnnual Percentage Rate (APR)
Real Estate Secured Line of Credit $20,000 and up 8.75% Variable Rate
$50.00 application fee at closing (currently waived). $50.00 annual fee. Variable rate is subject to change on the 1st of each month. Rate is based on the Wall Street Journal (WSJ) Prime Rate +5.00%. Floor rate is 7.00% with a ceiling rate of 18.00%. Credit is subject to approval.  Rates, terms, and conditions are subject to change at any time.

Business Real Estate
Effective Date: December 21, 2016
Loan TypeTermRate
Business Real Estate 5 year balloon | 20 year amortization Based on risk- not locked in until closing
Up to 80% financing available to qualified applicants for purchase or refinance transactions. Interest rate is not locked in until closing. Credit is subject to approval. Rates, terms, and conditions are subject to change at any time. ICCU NMLS# 400086