Business Lending
At RTP Federal Credit Union, we recognize the value you place on your business and the importance of securing the proper financing to help meet your short – and long-term goals. To help your business grow and prosper we offer several financing solutions to help you manage your cash or buy equipment.
Lines of Credit
RTP Federal Credit Union Lines of Credit allow you to borrow only as much as you need, precisely when you need it. You may borrow a set amount and pay it down repeatedly, balancing your cash flow needs with this ready source of short-term funds. A Line of Credit is simple and easy to use, and is an excellent financial tool to:
- Cover short-term cash needs until accounts receivable can be collected
- Take advantage of supplier discounts
- Cover seasonal working capital needs
A Line of Credit is most often secured by accounts receivable, inventory, and other business assets, and is renewable annually.
Term Loans
Term loans are used to finance the acquisition or modernization of the company's productive assets. Term loans are commonly used for:
- Purchases of machinery, equipment, furniture, fixtures, and to make leasehold improvements
- Permanent additions to working capital
- Expansion or modernization of facilities
- Vehicles or other business transportation
The source of repayment is often generated by the enhanced cash flow from these assets. The loan period is determined by the productive life of the assets. For example, loans used to buy computers and office equipment will be shorter in duration than those used to purchase manufacturing equipment.
Commercial Real Estate
RTP Federal Credit Union offers very competitive financing for commercial real estate, including the purchase of existing buildings or refinancing current loans. These loans use the property as the required collateral, and often are used for:
- Commercial properties, both owner – and non-owner occupied
- Rental housing
- Apartment complexes
- Combination business/residential properties
Recognizing that your real estate transaction may be unique, RTP Federal Credit Union offers an innovative and flexible program to fit your needs. Commercial real estate loans are amortized over a set period of time, with payments and interest rates fixed over a 3-5 year term.
Business Credit Cards
The RTP Federal Credit Union Business Credit Card provides a flexible way to streamline purchases and control your expenses. A RTP Federal Credit Union Business Credit Card allows you to:
- Separate business from personal expenses
- Issue cards to employees for purchases, travel, etc.
- Set the spending limit on each employee's card
Trade Finance
RTP Federal Credit Union can help your business facilitate business transactions through use of Letters of Credit. These instruments can guarantee international shipments or be used for cash deposits or performance bonds.
For more information or to apply for a Business Loan, please contact our Member Service Call Center at (919) 941-5700 or stop by your local branch today.
