Business Term Loan

Drive your business to the next level with loans for vehicles and equipment.
No complications
We offer easy-to-get, simple-to-understand term loans for a variety of purposes.
Attractive rates
Reduced interest payments leave you with more funds for other initiatives.
Easy payment process
Schedule automatic monthly payments using Online Banking.
Customized terms
Our loans can be tailored to work with your cash flow, budget, and other financial factors.

Make the upgrades that keep you ahead of the curve.

 

Modernize your equipment. Expand your vehicle fleet. Get capital for mission-critical projects. South Carolina Federal Credit Union term loans allow businesses to make timely investments necessary to grow and compete. Our experienced lenders will listen to your plans and customize terms to fit your specific needs.

Vehicle Loans
  • Flexible terms.
  • Competitive interest rates.
Equipment Loans
  • Length of term depends on life of asset.
  • Up to 75% financing.
  • Competitive interest rates.

All business entities will be required to provide information and documentation for the controlling party and for all owners of the business. A controlling party is an individual with significant responsibility for managing the legal entity.

Information required:

  • Full name
  • Address
  • Date of birth
  • Social Security Number
  • Phone number
  • Driver’s license number
  • Driver’s license state
  • Percentage of ownership, if applicable
  • Primary occupation, if also an owner of the business

If the controlling party is not present at account opening, please provide a copy of their driver’s license or other ID card. If you have any questions, please contact us.
 

Type of Entity Forms of Identification
Sole Proprietorship

Current picture ID and one of the following:

  • Business License or Retail License
  • Previous or current year tax return with Schedule C
  • IRS Letter 147c or IRS Form SS-4
Partnership

Current picture ID and two of the following:

  • Business License or Retail License
  • Partnership or Operating Agreement
  • Previous or current year tax return with Schedule C
  • Certificate of Existence/Certificate of Good Standing
  • IRS Letter 147c or IRS Form SS-4
Corporation or LLC

Current picture ID and two of the following:

  • Business License or Retail License
  • Certificate of Existence/Certificate of Good Standing
  • Articles of Incorporation or Organization
  • Previous or current year tax return with Schedule C
  • Operating Agreement
  • IRS Letter 147c or IRS Form SS-4
Organization or Association

Current picture ID and two of the following:

  • Copy of minutes appointing officers
  • Articles of Incorporation or Organization
  • Letter from secretary authorizing signers
  • IRS Letter 147c or IRS Form SS-4

 

Ask about a Business Term Loan.
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Rate may vary based on individual creditworthiness. Terms and conditions subject to change without notice. Subject to credit approval.