From SBA-backed term financing to flexible lines of credit and equipment loans, Servus Credit Union gives your business access to capital with competitive rates and a lending team that understands local markets.
Access to capital should not be the obstacle that keeps your business from expanding, hiring, or investing in equipment. Servus Credit Union underwrites business loans locally, which means decisions are made by people who understand your market and your industry rather than by an algorithm at a distant headquarters. The credit union offers term loans, lines of credit, SBA-guaranteed financing, and equipment loans, each structured around how your business generates and uses cash.
The Small Business Administration 7(a) program is the most widely used SBA loan product, and Servus Credit Union is an approved SBA lender with a track record of guiding borrowers through the application and funding process. SBA 7(a) loans can provide up to $5 million in financing and may be used for working capital, inventory purchases, equipment acquisition, leasehold improvements, business acquisition, and debt refinancing under certain conditions. The SBA guarantee covers up to 85% of the loan amount for loans of $150,000 or less and up to 75% for larger amounts, which reduces the risk to the credit union and allows Servus to approve applications that might not meet conventional underwriting standards. Terms extend to ten years for equipment and working capital and up to 25 years for real estate. Interest rates are negotiated between the borrower and Servus but are capped by SBA maximums tied to the prime rate. The application requires detailed financial documentation — tax returns, profit-and-loss statements, a business plan, and a debt schedule — but Servus assigns a dedicated loan officer who walks you through the checklist and keeps the process moving.
For commercial real estate purchases and heavy equipment acquisitions, the SBA 504 program offers long-term, fixed-rate financing with down payments as low as 10%. A 504 loan is structured with three participants: Servus Credit Union provides a first mortgage covering 50% of the project cost, a Certified Development Company issues a second mortgage for 40% backed by an SBA-guaranteed debenture, and the borrower contributes the remaining 10%. This structure gives borrowers access to below-market fixed rates on the CDC portion that are locked for 10, 20, or 25 years, protecting against interest-rate risk. Eligible uses include purchasing existing commercial buildings, constructing new facilities, renovating owned property, and buying machinery with a useful life of at least ten years. The 504 program requires that the project create or retain one job per $75,000 of SBA funding for most borrowers, though manufacturing businesses and certain public-policy projects qualify under alternative standards. Servus CU handles the first mortgage underwriting and coordinates with the CDC to synchronize closing, so you are not navigating two parallel loan processes on your own.
Not every financing need requires SBA involvement. Servus Credit Union also underwrites conventional term loans and revolving lines of credit for businesses with strong financial profiles. A term loan provides a lump sum repaid on a fixed schedule over one to ten years, making it suitable for one-time investments such as a renovation, a vehicle fleet upgrade, or a practice acquisition. Interest rates are competitive with — and often lower than — comparable bank offerings because the credit union's not-for-profit structure returns margin to members. Lines of credit give you a revolving pool of funds you can draw on as needed, repaying and reusing the line without reapplying. Businesses typically use lines of credit to smooth out seasonal cash-flow gaps, cover payroll during slow months, or seize inventory-buying opportunities when suppliers offer discounts. Servus reviews lines annually and adjusts the credit limit based on your most recent financials and borrowing patterns. Both term loans and lines can be secured by business assets, real estate, or certificates of deposit, and unsecured options are available for well-qualified borrowers with shorter credit histories at the credit union.
Whether you need a new CNC machine, a delivery truck, or an office-wide technology refresh, Servus CU equipment financing covers up to 100% of the purchase price for qualified borrowers. The equipment itself serves as collateral, which simplifies the underwriting process and often results in faster approvals than unsecured lending. Financing terms are matched to the useful life of the asset — typically three to seven years for most equipment categories — so your payments align with the period during which the asset generates revenue. The credit union can finance both new and used equipment, and in many cases, Servus will coordinate directly with the vendor or dealer to pay the invoice, eliminating the step where you float the purchase on a credit card while waiting for loan funding. Seasonal businesses can request structured payment schedules that align with revenue cycles, such as interest-only periods during off months followed by principal-plus-interest payments during peak seasons. For guidance on equipment financing protections and commercial lending regulations, refer to consumerfinance.gov.
| Loan Program | Max Amount | Typical Term | Rate Structure | Best For |
|---|---|---|---|---|
| SBA 7(a) | $5,000,000 | 10–25 years | Variable (Prime +) | Working capital, expansion, acquisition |
| SBA 504 | $5,500,000 (CDC portion) | 10–25 years | Fixed (CDC) + Variable (Servus) | Commercial real estate, heavy equipment |
| Term Loan | $2,000,000 | 1–10 years | Fixed or Variable | One-time investments, renovations |
| Line of Credit | $500,000 | Revolving (annual review) | Variable (Prime +) | Working capital, cash-flow smoothing |
| Equipment Financing | 100% of purchase price | 3–7 years | Fixed | Machinery, vehicles, technology |
Rates and terms subject to credit approval. SBA program maximums set by federal guidelines. See ncua.gov for credit union regulatory information.
The SBA 504 loan Servus Credit Union helped me secure for our data center expansion closed in under 45 days. My loan officer knew the CDC contacts personally and kept both lenders aligned on the timeline. The fixed-rate portion on the CDC mortgage means I am not lying awake at night worrying about rate resets five years from now.
— Derek Holmes, IT Professional, Richmond VA
Servus Credit Union is an approved SBA lender participating in both the 7(a) and 504 programs. The 7(a) program provides up to $5 million for a wide range of business purposes — working capital, equipment, leasehold improvements, business acquisition, and, under certain conditions, debt refinancing. The SBA guarantee covers 75% to 85% of the loan amount depending on loan size, which reduces the credit union's risk and can make approval possible for businesses that do not yet meet conventional underwriting thresholds. The 504 program is purpose-built for commercial real estate and heavy equipment, combining a conventional first mortgage from Servus with a long-term, fixed-rate second mortgage backed by an SBA debenture. Borrowers contribute as little as 10% equity. A Servus lending officer will help determine which SBA program fits your project, because choosing the wrong one can add weeks to the timeline and thousands in unnecessary guarantee fees.
A complete business loan application at Servus CU typically requires three years of business tax returns, interim profit-and-loss and balance sheet statements dated within 90 days, a debt schedule listing all existing obligations, personal tax returns and a personal financial statement from any owner holding 20% or more of the business, and a brief description of the loan purpose with a use-of-funds breakdown. For real estate transactions, you will also need a purchase agreement, rent roll for income-producing properties, and environmental documentation. SBA applications add SBA-specific forms — 1919 for the borrower information form and 413 for the personal financial statement — which your Servus loan officer will provide and help you complete. Gathering these documents before the first meeting shortens the underwriting timeline considerably. Most conventional loans receive an initial decision within three to five business days of a complete application.
A term loan delivers a lump sum at closing that you repay on a fixed monthly schedule over a set number of years. It works well for a defined, one-time investment — buying a building, renovating a space, purchasing a practice. A business line of credit, by contrast, gives you a revolving credit limit you can draw against as needed, repay, and draw again. Interest accrues only on the outstanding balance, not on the full credit limit. Lines of credit are better suited for managing cash-flow gaps, covering payroll during seasonal slowdowns, or taking advantage of supplier discounts on bulk inventory purchases. Servus Credit Union reviews lines of credit annually, and as long as your financial condition remains strong, the line stays open and ready. Many businesses maintain both a term loan for long-term capital investments and a line of credit for short-term working-capital flexibility. The credit union does not charge non-usage fees on undrawn lines, so you are not penalized for maintaining access to capital you may not need every month.
Yes. Servus CU equipment financing covers purchases from private sellers, dealers, and auctions. The credit union will need a bill of sale, the equipment make, model, year, and serial number, and — for higher-value items — an independent appraisal or valuation to confirm the purchase price aligns with market value. Financing can cover up to 100% of the purchase price for qualified borrowers, and in many cases Servus also finances soft costs such as delivery, installation, and training if they are included in the purchase agreement. Used equipment financing terms are typically shorter than those for new equipment, reflecting the remaining useful life, but rates are competitive regardless. The equipment itself serves as collateral, which simplifies the process compared to an unsecured loan. If you are purchasing multiple pieces from different sellers as part of a single project, Servus can consolidate the financing into one loan with a blended rate and a single monthly payment.
Interest rates on Servus Credit Union business loans vary by loan type, term, collateral, and the borrower's credit profile. SBA 7(a) variable rates are generally quoted as Prime plus a spread of 1.5% to 2.75%, with the spread determined by loan size and term. SBA 504 loans carry fixed rates on the CDC portion — set at the time the debenture is sold on the bond market — plus a variable rate on the Servus first mortgage. Conventional term loans and lines of credit at Servus CU are priced based on the borrower's debt-service coverage ratio, time in business, collateral quality, and the overall relationship with the credit union. Borrowers who also hold checking or savings accounts at Servus frequently receive relationship-based rate reductions. Equipment loans are typically fixed-rate, and because the equipment serves as collateral, rates are generally lower than unsecured working-capital lines. Every loan quote includes a clear disclosure of the annual percentage rate, total interest cost, and any origination or guarantee fees before you sign, so you know the all-in cost of capital.
Ready to fund your next project? Contact a Servus Credit Union business lending specialist to discuss your needs, review your options, and start an application. Decisions are made locally by people who understand your business.
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