SBA Loan Relief Programs
We're here to help.
Our commercial banking team is here to help your business find the right path to success, even during hardships. Our SBA Preferred Lender status means that we can process SBA loans faster with our local team.
Contact our business team to learn more and get started: (833) 267-7321
SBA 7(a) Program Loans
- Loan funds are available for almost any purpose, including working capital.
- For a limited time, SBA will pay six (6) monthly payments on new loans through the CARES Act.
- CMCU is a designated Preferred Lender through SBA.
*Membership qualification required. Other restrictions may apply. Ask for details.
SBA's Economic Injury Disaster Loan Program (EIDL)
The loans are designed to assist businesses who suffered working capital losses due to the coronavirus pandemic. Proceeds can assist with making fixed debt payments, payroll, Accounts payable, lease payments, insurance etc.
Applications for the loans are made directly to SBA, not CMCU. Loan payments are also made directly to SBA. Learn more about the program by clicking here.
- $2,000,000 Maximum Loan Amount (Including affiliate entities)
- 3.75% APR (Non-Profit: 2.75% APR)
- Up to 30 year term - based on individual credit approval
- No payments for the first 11 months
- No collateral required for loans of $25,000 or less