Commercial Services – Loans
Business Term / Demand Loans | Business Mortgage Loans
Business Loan Insurance | CULEASE
"The Service You Desire. The Service You Deserve"
Chinook Credit Union offers commercial loans to businesses in and around the Southern Alberta area. With operating loans, commercial mortgages, commercial construction mortgages, lines of credit and municipal loans, Chinook Credit Union can meet a large range of commercial needs.
Call your local branch for current rates. | Loan Payment Calculator
The following types of commercial loans are available to meet the needs of our business members:
Business Authorized Overdrafts/Operating Lines of Credit
Authorized Overdrafts and Operating Lines of Credit are generally set up to cover operating expenses and are tied directly to your chequing account. They offer the convenience of pre-approved credit. Overdrafts and Operating Lines of Credit revolve on demand and are renewable annually.
Business Term/Demand Loans
Term loans are available to purchase new or used machinery and equipment. They can be amortized up to a maximum of 7 years. In the case of big-ticket items, we will amortize up to a maximum of 10 years.
Business Mortgage Loans
Mortgage loans are available to purchase land, buildings and improvements, or for reorganization of the business enterprise. Financing can be up to 65% of the current appraised value or purchase price, whichever is less. Amortizations are available up to a maximum of 25 years with terms of 1 to 5 years. Both fixed and floating rates are available.
Payments can be monthly, quarterly, semi-annually, or annually, depending on the type of operation and the dates of expected cash flows.
Business Loan Insurance
Loan insurance is an economical financial safeguard that can reduce your financial risk. It's a sensible solution when:
- New borrowing and increased debt raise your risk of financial loss.
- Your business debts are higher than your existing insurance.
- You have family responsibilities and dependants who rely on income from your business.
- You have business partners who share business debts equally.
- Losing a partner's profit-producing ability raises financial concerns.
For loans under $100,000, you can apply at your local branch of Chinook Credit Union and your protection could begin right away. Coverage is available on loans up to $500,000. Ask about the range of plans that are available.
CULEASE
CULEASE is an effective, cost efficient financial service designed to allow you to lower your payments and still have the latest equipment to stay competitive in today's market. Leasing is available for all kinds of industrial, agricultural and commercial equipment including: grain bins, farm machinery, construction equipment, office equipment, communication networks, utility trucks and trailers, machine tools, trucks, oilfield equipment and more.
Our knowledgeable and experienced staff are available to offer sound financial advice to commercial members, whether just starting a business, upgrading or expanding, Chinook Credit Union is the financial institution you can count on.
If you are interested in a commercial Loan, please visit your local branch of Chinook Credit Union.
