Commercial lending at First Community Credit Union isn't routed through a national credit center where your file becomes a number in a queue. Underwriting decisions are made locally, by people who understand your market. That means faster answers, more flexible structuring, and a rate that reflects your actual creditworthiness — not a bank's need to maximize margin for shareholders.
Six commercial lending products cover the range from working capital to real estate acquisition: commercial term loans, revolving lines of credit, commercial real estate financing, equipment loans, construction lending, and business credit cards. All are available to qualifying First Community Credit Union business members.
First Community Credit Union offers commercial term loans (up to 7-year terms, $10,000 minimum), business lines of credit (revolving, $25,000 minimum), commercial real estate loans (owner-occupied and investment, $100,000 minimum), equipment financing ($5,000 minimum, up to 84-month terms), construction loans (interest-only draw period, then permanent financing), and business credit cards (no annual fee, competitive purchase APR). All lending is underwritten locally. Debt service coverage ratio of 1.25x or higher typically required. Personal guarantees required for owners with 20%+ ownership. NMLS #489352. Federally insured by NCUA.
Key terms, rates, and collateral requirements across all First Community Credit Union commercial lending products.
| Loan Product | Amount Range | Term | Rate Type | Collateral | Decision Time |
|---|---|---|---|---|---|
| Commercial Term Loan | $10K–$2M | Up to 7 years | Fixed or variable | Blanket lien on business assets | 5–10 business days |
| Business Line of Credit | $25K–$500K | 12-month revolving | Variable (Prime + margin) | Secured or unsecured | 3–7 business days |
| Commercial Real Estate (CRE) | $100K–$5M | Up to 25 years | Fixed (5/7/10-yr balloon) | 1st lien mortgage on property | 15–25 business days |
| Equipment Financing | $5K–$1M | Up to 84 months | Fixed | Financed equipment (1st lien) | 5–8 business days |
| Construction Loan | $250K–$5M | 12–18 mo. draw + perm | Variable during draw | 1st lien on land & improvements | 20–30 business days |
| Business Credit Card | Up to $50K limit | Revolving | Variable purchase APR | Unsecured; personal guarantee | 3–5 business days |
Rates vary based on creditworthiness, term, and collateral. Contact (800) 342-8575 for current rate quotes. NMLS #489352.
A commercial term loan from First Community Credit Union provides a lump-sum disbursement repaid over a fixed schedule with predictable monthly payments. Terms run up to 7 years. Fixed-rate structures provide payment certainty for planning purposes; variable-rate options start lower but adjust to market conditions over the loan term.
Use cases include working capital for a business expansion, purchasing a competitor's assets, funding a major inventory build, or consolidating higher-rate debt into a single structured payment. Collateral is typically a blanket lien on business assets — accounts receivable, inventory, and equipment. Lenders look for a minimum 1.25x debt service coverage ratio and two to three years of consistent business revenue history.
The Consumer Financial Protection Bureau publishes guidance on evaluating commercial loan agreements — see CFPB small business resources for context on lender disclosure requirements and your rights as a borrower. The SBA's lending guidance is available at SBA.gov.
First Community Credit Union finances owner-occupied commercial real estate — office buildings, retail space, warehouses, mixed-use properties, and medical facilities — as well as investment commercial properties. Loan-to-value limits typically run to 80% on owner-occupied CRE and 75% on investment properties.
Loans are structured with 5, 7, or 10-year fixed-rate balloon periods amortized over up to 25 years — providing rate certainty for planning without locking into a full 25-year fixed that carries a rate premium for the lender's interest-rate risk. At balloon maturity, the loan is refinanced at then-current rates, subject to approval. Construction-to-permanent financing is available for ground-up builds, avoiding the need to close twice.
Finance machinery, vehicles, restaurant equipment, medical devices, manufacturing tools, and technology infrastructure. The financed equipment serves as collateral — no blanket lien on other business assets required for standalone equipment loans.
Revolving credit for managing cash flow gaps, seasonal inventory builds, and unexpected operating expenses. Draw and repay as needed within the approved limit. Annual renewal with credit review required to maintain the line.
Interest-only draw period during construction with funds disbursed in stages as project milestones are met. Converts to permanent financing at project completion — one loan closing, not two.
Up to $50,000 in revolving credit. No annual fee. Expense tracking integration with QuickBooks. Employee cards with individual spending limits. Competitive purchase APR well below typical bank business card rates.
First Community Credit Union offers six primary commercial lending products: commercial term loans for working capital and expansion (terms up to 7 years), business lines of credit for revolving operational needs, commercial real estate loans for owner-occupied and investment properties, equipment financing for machinery and vehicles, construction loans for ground-up builds and major renovations, and business credit cards with no annual fee. All products are underwritten locally.
Collateral requirements vary by loan type. Commercial term loans typically require a blanket lien on business assets (accounts receivable, inventory, equipment). Commercial real estate loans are secured by a first-lien mortgage on the property. Equipment loans are secured by the financed equipment. Business lines of credit may be secured or unsecured depending on creditworthiness. Personal guarantees from owners with 20% or greater ownership are standard across all commercial lending products.
First Community Credit Union underwrites business loans locally — decisions are not outsourced to a centralized credit center. The underwriting team reviews business and personal credit scores, two to three years of business tax returns and financial statements, cash flow analysis (debt service coverage ratio of 1.25x or higher is typically required), collateral valuation, and industry-specific risk factors. Local underwriting allows First Community Credit Union to accommodate non-standard situations that automated bank systems decline without review.
Minimums by product: commercial term loans, $10,000; business lines of credit, $25,000; commercial real estate, $100,000; equipment financing, $5,000; construction loans, $250,000; business credit cards, up to $50,000 limit. For needs below these thresholds, the credit union may recommend a personal loan or business credit card depending on use of funds and the borrower's overall financial profile.
Standard commercial loan decisions are issued within 5 to 10 business days of receiving a complete application package. Business line of credit decisions for existing members with clean credit histories may be issued in as few as 3 business days. Construction and CRE loans typically require 15 to 25 business days due to appraisal and environmental review timelines. Local underwriting avoids the delays common when banks route decisions through regional credit centers.
Call (800) 342-8575 to discuss your financing needs. Bring two years of business tax returns and financial statements to your first conversation — that's usually enough for an initial assessment.
Apply for a Business LoanFree and premium business checking with ACH origination, positive pay, and electronic deposit processing for First Community Credit Union members.
Business money market, share savings, escrow accounts, and certificates earning competitive dividends at First Community Credit Union.
SBA 7(a) up to $5M, SBA 504, SBA Express up to $500K, and Microloan programs with government-backed guarantees and competitive rates.
POS, e-commerce gateway, mobile card readers, virtual terminal, next-day funding, and PCI DSS compliance for business members.
First Community CU