We want your business to succeed.

Linn Area Credit Union is a local institution. We believe local businesses are essential to the growth of Cedar Rapids and surrounding areas. We have the knowledge, experience and products to help your business succeed.

COMMERCIAL FIRST MORTGAGE:

  • Purchase or refinance commercial buildings, investment properties or land for real estate development or construction loans.
  • 5 to 25 year terms available.
  • Fixed and adjustable rate products available.

BUSINESS LINE OF CREDIT:

  • One year, annually renewable, working capital lines of credit.
  • Interest only payments.
  • Secured by accounts receivable and inventory.
  • Can accommodate seasonal cash flow needs.

VEHICLE LOANS- Can be used to finance one vehicle or multiple vehicles.

EQUIPMENT LOANS:

  • Finance equipment needed to run your business.
  • 20% down is required for this particular loan.
  • Term is dependant on the useful life of the equipment financed.

AGRICULTURE LOANS - Purchase or refinance farm land or recreational land.

SMALL BUSINESS ADMINISTRATION (SBA) LOANS:

A Small Business Administration loan is backed by the government, making it possible to offer long-term financing. This type of loan can be used to establish a new business or to assist in the operation, acquisition or expansion of an existing business.

This may include:

  • Purchasing land or buildings with 10% down
  • Acquiring furniture, fixtures, machinery and equipment
  • Working capital or financing inventory
  • Construction or renovation projects
  • Financing business acquisitions

There are several types of loans available through the SBA and we’ll find the right one for you and your business.

TO GET MORE INFORMATION OR TO APPLY:

Call 378-0101, x378 or stop by our Blairs Ferry Road branch and ask to speak with our experienced and helpful commercial lender. We’ve got the funds and advice you need to help make your business into what you’ve been dreaming about.

Make your loan application go quickly and smoothly by bringing the following:

  • Current personal financial statement
  • Personal tax returns for the past 3 years
  • Business tax returns for the past 3 years
  • Any entity paperwork (LLC, Inc, PC, LC, etc)
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