Brooklyn Cooperative Federal Credit Union
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Brooklyn Cooperative - Federal Credit Union
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Small Business Loans

Business Banking

At Brooklyn Cooperative, we will consider loan applications from any business regardless of their history. Even if you are just starting out or are a micro-entrepreneur, we may be able to provide you with the financing you need to make your business dream a reality! Start-up loans are made for $500 through $10,000 and established businesses are eligible for loans as large as $50,000.

Flexible terms – Brooklyn Cooperative understands that businesses need flexibility when repaying a loan. That is why we provide our business clients with flexibility in choosing a payment plan that is right for them. Our terms go up to a maximum of 12 years, and there is no prepayment penalty.

Fast Turnaround – Get a response within five to ten business days!
 

current rates

 

FEES
(other than appl fee)

MAX TERM

TYPE

Interest Rates

Microenterprise

1% origination

12 years

 

 

-- less than $10,000

 

 

Fixed

9%

-- above $10,000

NYCfNAC, UCC, SBA, and/or Cap Access fees may apply

 

Fixed

12%

-- line of credit (loc)

plus $25 draw fee

 

Adjustable

12%

Rates are effective as of October 1, 2012.

 *Credit insurance is strongly recommended for large business loans.

APPLY ONLINE NOW!

DOWNLOAD A BUSINESS APPLICATION FORM

You can get started by downloading a loan application from our website. If you are a start up (less than two years in business), click here. Businesses with more than two years of operations, click here. All cosigners to all business loans must fill out and sign the personal guaranty form.  

For more information on application requirements and our business services, please contact Claudia Fernandez at (718) 418-8232 x 213 /   claudia@brooklyn.coop or Daniel Gonzalez at (718) 418-8232 x203 / daniel@brooklyn.coop.