Business Loans

Lines of Credit

A Tennessee Members 1st FCU Line of Credit will allow you to borrow only as much as you need, precisely when you need it. You may borrow a set amount and pay it down repeatedly, balancing your cash flow needs with this ready source of short-term funds. A Line of Credit is simple and easy to use, and is an excellent financial tool to:

  • Cover short-term cash needs until accounts receivable can be collected
  • Take advantage of supplier discounts
  • Cover seasonal working capital needs

A Line of Credit is most often secured by accounts receivable, inventory, and other business assets, and is renewable annually.


Term Loans

Term loans are used to finance the acquisition or modernization of the company’s productive assets. Term loans are commonly used for:

  • Purchases of machinery, equipment, furniture, fixtures, and to make leasehold improvements
  • Additions to long-term working capital
  • Expansion or modernization of facilities
  • Vehicles or other business transportation

The source of repayment is often generated by the enhanced cash flow from these assets. The loan period is determined by the productive life of the assets. For example, loans used to buy computers and office equipment will be shorter in duration than those used to purchase manufacturing equipment.


Commercial Real Estate

Tennessee Members 1st FCU offers very competitive financing for commercial real estate, including the purchase of existing buildings or refinancing current loans. These loans use the property as the required collateral, and often are used for:

  • Commercial properties, both owner- and non-owner occupied
  • Rental housing
  • Apartment complexes
  • Combination business/residential properties

Recognizing that your real estate transaction may be unique, the credit union offers an innovative and flexible program to fit your needs. Commercial real estate loans are amortized over a set period of time, with payments and interest rates fixed over a 3-5 year term.


Credit Cards

The Tennessee Members 1st FCU Corporate Credit Card provides a flexible way to streamline purchases and control your expenses. A credit card that allows you to:

  • Separate business from personal expenses
  • Issue cards to employees for purchases, travel, etc.
  • Set the spending limit on each employee’s card