Credit Union Business Loans

Credit unions are member-owned, not-for-profit financial cooperatives. Many offer business accounts and loans, and some are active SBA lenders. In Puerto Rico, cooperativas play a similar role.

Why consider a credit union

• Member focus: decisions can be more relationship-based.
• Competitive rates and fees on many products.
• Local knowledge of your community.
• Spanish-speaking service at many credit unions in Hispanic communities.
• Their own loan products, with their own eligibility rules, alongside any SBA loans they make.

Common business products

Product	Notes
Business checking and savings	Often required before a loan
Term loans	Equipment, vehicles, expansion
Lines of credit	For established members
Commercial real estate loans	Buying or refinancing property
SBA loans	Only at credit unions that participate
Credit-builder loans	Help owners build history

Membership

You must join to borrow. Membership is usually based on where you live or work, your employer, or an association. Some have very broad eligibility.

Limits to know

Credit unions face federal limits on how much business lending they can do overall, so some are cautious with large loans. For bigger projects, a bank or SBA loan may fit better.

Find credit unions that make SBA loans

Many credit unions appear in our lender finder because they made SBA loans; search your state and look for “Credit Union” in the name.

Frequently asked questions

Do I have to be a member to borrow from a credit union?

Yes. Membership is usually based on where you live or work, your employer or an association.

Do credit unions make SBA loans?

Some do. Many also offer their own business loans with their own eligibility rules.

Are credit unions good for large loans?

Sometimes not. Federal limits on business lending make some credit unions cautious with large projects.