Business loans
Choose from several financing options to help your businesses grow. Find what your business needs, from a small business loan, commercial real estate loan, installment loan- for equipment or vehicles, or business lines of credit for day-to-day expenses. We also offer business credit cards with no annual fees and reward points.
We Can Help Your Business Grow
To grow your business, sometimes you need a little help. Expanding your office, or adding a new location? We can help with that. Buying new equipment? We can help with that too. Whatever your situation, a small business loan, or small business credit card might be just what you need. Check out our solutions below.
Commercial
Business Loans
Business Line
of Credit
Business
Credit Card
Small Business
Loan
Commercial & Investment Real Estate Loans
Details
- Use an Honor commercial real estate loan to purchase a new location or expand or renovate your existing operation
- Our commercial real estate loans can be used for new purchases or to refinance existing loans
- We offer fixed and variable rate terms to meet the needs of your business
- Our rates are competitive with flexible payment options including: weekly, bi-weekly, bi-monthly, monthly, or annual
Installment Business Loans
Details
- Use an Honor installment loan to purchase equipment or vehicles
- Installment loans have competitive rates with flexible terms to meet your needs
- Talk with our business team about the possibility of using an installment loan to help start your business or consolidate debt
Business Line of Credit
Details
- More flexibility than a traditional business installment loan
- Manage your day-to-day business needs, from payroll to overhead costs
- Allows you to take advantage of immediate business opportunities
- An Honor Business Line of Credit can be either secured or unsecured
Business Credit Card
Details
- Credit limits up to $50,000
- No annual fees
- Earn 2 reward points for every $1 spent!
- Load your card into your Digital Wallet on your phone. Click here to learn more.
- Enjoy 24/7 fraud protection and card support. Click here to learn more.
Small Business Loan
Details
- A small business loan, often called an SBA Loan, can be used for commercial, real estate, or construction needs
- You can refinance or purchase equipment
- Fixed or variable interest rates with flexible terms, depending on your needs
- Down payments as low as 10 percent on commercial real estate
Note: Before you start the application process, we recommend you build a plan for your business. This will help the loan application process and be instrumental to you in creating your vision for your business.
Open a Business Loan
We ask that you connect with one of our local experts so they can work with you one-on-one to help you and your business achieve financial success.
BUSINESS LOAN FAQs
If you have a great idea for a business we want to hear it and help you make your dream a reality. We recommend you start by putting a business plan together. This will help you better understand what your next steps might be. Get started building a plan
You will need the following documents:
- Business debt schedule
- Copy of full federal personal tax returns from previous three years if possible
- Copy of full federal business tax returns that you are at least 20% owner of (from previous three years if available)
- Two months of personal and business (if available) bank or credit union statements
Businesses must be for profit and must operate in the United States. Business cannot have more than $15,000,000 in maximum tangible net worth and a two-year average net income after federal income tax of $5,000,000. Business must be able to show that they can repay the loan from existing cash flow.
Qualification to apply does not mean the loan will be approved if these criteria are met. Request must still be underwritten and approved by Honor Credit Union and the SBA.
- Most loan options require a 20 percent down payment or equivalent equity injection if available.
- SBA & USDA loans must comply with program guidelines, but do require a minimum 10 percent down payment or equivalent equity injection.
