Small Business Loans
What Kind of Small Business Loan Meets Your Needs?
LES People’s FCU offers a wide range of loan products for entrepreneurs operating:
- ✔️ Retail businesses
- ✔️ Restaurants
- ✔️ Service and wholesale businesses
- ✔️ E-commerce ventures
- ✔️ Light manufacturing operations
- ✔️ Certified Minority-Owned Businesses (MBE)
- ✔️ Self-employed individuals
Small Business Loans can be used to:
- ✔️ Purchase inventory, supplies, or materials
- ✔️ Acquire and/or improve machinery, equipment, or real estate
- ✔️ Provide working capital for growing businesses
Types of Small Business Loans by Amount
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LES PEOPLE’S offers loans to start-up businesses (less than 2 years in operation) for equipment, inventory working capital, capital improvement, and other purposes. Equity Requirement: owner’s cash equity
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LES PEOPLE’S offers business lines of credit to operating businesses which need working capital for seasonality or expansion purposes. Loan terms can go up to 7 years. Equity Requirement: owner’s cash equity. Collateral/co-signer need determined on a case-by-case basis *Up to $50,000.00 | Up to 7 Years8
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LES PEOPLE’S partners with the Small Business Administration (SBA) to offer loans through its SBA Express loan program, which provides an accelerated 36-hour turnaround time for SBA review *Up to $250,000.00 | Up to 7 Years
Apply for Small Business Loans
To apply for a LES People’s Small Business Loan, applicants must provide the following:
- ✔️ Complete Business Loan Application
- ✔️ Complete and submit Business Plan Questionnaire or Prepared Business Plan
- ✔️ Business and Personal Tax Returns of all business owners (last 3 years)
- ✔️ Business and Personal Financial Statement of all business owners (last 3 years)
- ✔️ Financial Projections (3 years)
See our current Business Rates & Fees
Calculate your Payment
Contact one of our Member Service Representatives if you have additional questions at (212) 529-8197 or by emailing lespfcu@lespfcu.org.
