Business Lending Products

MACFCU’s term loan product allows business members to quickly and efficiently obtain funds in a lump sum of money that business owners pay interest on until the entire amount is repaid on a fully amortized, fixed-rate repayment schedule. Term loans are well suited for a specific purpose, like to fund a large piece of equipment, where you’ll need to immediately use the entire amount you’re approved for to fund a large purchase or other expense. Term loans available are Unsecured, Business Equipment loans, and Commercial Auto Loans.

MACFCU’s business line of credit (LOC) allows business members to draw against a predetermined credit limit, as they need it, instead of receiving the full loan amount at one time like a term loan. The biggest advantage of a business credit line is that you only pay interest on the funds you actually draw and when funds are needed. As you pay down the balance on your line of credit you increase the amount available to draw in the future. Business LOC loans are supported by the personal guarantee of the business owner(s) and can be a great solution to get access to cash that can be put into your business share account quickly.