VIEWS: 2 PAGES: 2 CATEGORY: Business & Economics POSTED ON: 6/18/2010
Companies that are used to dealing with bank lenders will feel comfortable at Affinity Federal Credit Union, said Joan Grimes, the institution's assistant vice president in charge of member business lending.
Jupiter Images Local lending on YOUR Business owners who once found success in gaining commercial loans from banks are now turning toward credit unions. ‘Few barriers’ to obtaining terms commercial business loans $14,500,000 COMMERCIAL MORTGAGE provided to a ‘These aren’t normal times,’ so Contract Packaging Company companies look to credit unions Top tips for getting a Serving the Pharmaceutical Industry where they once turned to banks commercial loan n Does the credit union offer $3,770,000 $5,000,000 COMMERCIAL MORTGAGE & LOC LINE OF CREDIT By Martin C. Daks commercial financing? Call the insti- provided to a provided to a When AuTOMOBILe dealer owner Frank tution or check its Web site. Chemical Manufacturer General Contractor Esposito looked to line up financing for an n Can your company join the Serving the Industrial Cleaning Industry Serving the NJ Transportation Industry acquisition, he didn’t even think of going to credit union? Many credit unions a bank. Instead esposito, president of route require members to “live, work, wor- 46 Chrysler Jeep Dodge, in Little Falls, went ship” or otherwise be located in a $2,000,000 $8,770,476 LINE OF CREDIT EDA BOND straight to his credit union. county, town or other jurisdiction. provided to a provided to a “normally I’d go to a bank for financing, n Be prepared with documenta- Computer Rental Company Electrical Power System Manufacturer but these aren’t normal times,” esposito said of tion. Established businesses should Serving the Tradeshow Industry Serving the Power & Utility Industry his decision to tap north Jersey Federal Cred- have two or three years of corporate it union, a Totowa-based financial institution. tax returns and the owners’ personal “everyone I spoke with said they were getting returns, along with financial state- turned down by their banker when they went ments for the most recent full year. More Purchasing
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