Business Loans & Lines of Credit
At Elevations, we take the time to listen to your unique business lending needs. Our team is here to help you find a loan or line of credit designed to finance whatever your business needs: working capital, commercial real estate, machinery and equipment, a new or used vehicle, green energy upgrades, technology or just about anything else.
ASSETLINE: BUSINESS LINE OF CREDIT
Spending power, when and where you need it.
Whether you want to take on new accounts, hire additional staff, expand your physical space or upgrade your technology, the Elevations AssetLine Business Line of Credit offers a convenient and efficient way to meet your day-to-day cash flow needs by providing your business with up to $100,000 of working capital. Choose to advance funds through Business Online Banking or at an Elevations branch, or simply swipe your AssetLine Visa® card to advance funds right at a point of sale. With your loan approval happening under one roof, you can get approved in as little as one business day.
Business Lines of Credit
Draw the funds you need. Only pay for what you use.
Get the security and convenience of a revolving line of credit for your working capital needs. Elevations Business Lines of Credit are secured loans, meaning the assets of your business serve as collateral for the line of credit. You may borrow anywhere from $100,000 up to several million dollars if your company’s financial position supports it. After you pay down funds you’ve used, that credit becomes available to be used again.
With one lending team under one roof, you can benefit from faster turnaround times and stronger communication.
We have many loan options for businesses:
Business Term Loans
Equip your business with the right loan to grow.
At Elevations, we work in your best interest to make sure you receive a loan with the right terms— whether it’s funding for equipment, machinery or other assets, or even financing for energy-efficiency and renewable energy upgrades in your facilities. Our term loans offer flexible terms, competitive rates and market-leading underwriting and approval times so that your business can keep moving along.
Commercial Real Estate Loans
Get your next real estate purchase off the ground.
Whether purchasing space for your business or refinancing your current one, we can help with commercial mortgages for both owner-occupied and investment real estate of all types. Owning your commercial space will always be one of the largest assets for your business, allowing you to build equity and take the most control of your space.
SBA 504 Loans
Long-term project financing made possible.
In certain situations, you may qualify for the U.S. Small Business Administration’s 504 Loan Program. An SBA 504 loan allows you to take advantage of lower rates, longer terms and minimal cash down on the purchase of certain long-term assets including owner-occupied commercial real estate, the renovation of your existing property or the purchase of certain equipment and machinery.
Put your business in the driver’s seat.
We have affordable options that make it easy to buy your next business vehicle or refinance your current one. We offer loan amounts from $10,000 to $250,000, a maximum loan term of 84 months and a maximum loan-to-value (LTV) of 100%.
Business Lending Team
We’re in business for your business.
Elevations Credit Union’s Business Banking Team has the financial wellbeing of your business in mind and at heart. Serving businesses across Colorado’s Front Range, our team provides a consultative approach to help you realize long-term success for your business, whether you’re just starting out or have matured and grown over many years.
Commonly asked questions
AssetLine allows Elevations business members to access working capital how they choose, meaning they can advance funds via online banking, at an Elevations Branch or by swiping their AssetLine Visa card anywhere Visa is accepted.
Be prepared to provide your banker with at least two years of financial statements, as well as details on your personal financial health. In general, a good rule to keep in mind is your banker would rather have more information than less, so don’t worry about inundating him or her with documents.
The first step you, a business owner, should take when assessing working capital needs is to call your banker and set up an appointment. Your banker is trained to ask specific questions and help guide you toward the best solutions for your business. While you may think a particular option is the best fit for you and your business, your banker may come to a different conclusion and offer you a perspective not yet considered.
Elevations Business Energy Loans offer financing for energy efficiency and renewable energy upgrades. This program is available to Boulder County businesses through EnergySmart and to business customers of the City of Fort Collins utilities.