Small Business Loans
Educators Credit Union can help you finance your small business.
Types of Small Business Loans
Small business term loans can be used for a variety of purchases: equipment, business vehicle or real estate. Each term and rate is determined by the type of collateral, loan to value, credit history, overall financial strength and other factors.
Business auto loans
Finance semis, trailers, commercial trucks, commercial vans, and other vehicles to meet your business’s needs.
Equipment loans
Purchase the equipment necessary to start or grow your business with finance and refinance options.
Commercial real estate
Finance owner and non-owner occupied commercial real estate, single or multi-family investment properties, new construction, vacant land, and other properties located in Wisconsin.
Application Process
Visit any Educators Credit Union branch to apply for a business loan or line of credit. To help the application process, applicants should bring:
- Tax returns for the business for the previous three years
- Tax returns for any business owners for the previous three years
- Entity documents
- Collateral information if available
If you have questions about Small Business Loans, contact Business Development Officers, at 262.886.5900. You can also stop in at any Educators location for more information.
More Detailed Information:
If you have a commercial equipment or vehicle loan through Educators, you must maintain the following minimum insurance coverages. You must also provide Educators with proof of insurance. Give us your current insurance information quickly and easily online at educators.imcovered.com.
PLEASE NOTE: Insurance cards are not permitted as proof of insurance.
What is acceptable proof of insurance?
Acceptable proof of insurance shows the following on the Insurance Declaration:
Type – Equipment: All risks, including fire, theft and liability
Type – Vehicle: Comprehensive and collision
Amount: Full Insurable Value
Basis: Replacement Value
Endorsements: Loss payee clause with stipulation that coverage will not be cancelled or diminished without a minimum of 30 days prior written notice to Lender.
Deductibles: Not exceeding $1,000, as set by Educators Credit Union
Educators Credit Union listed as loss payee as follows:
Educators Credit Union
P.O. Box 080916
Racine, WI 53408
Correct collateral description including:
Year, make, model and complete VIN/Serial Number
Borrower/Insured name
Policy number
Coverage effective/renewal date