The Benefits of Getting a Commercial Loan in Las Vegas Through a Credit Union
Starting a new company is an exciting time for business owners, but there are plenty of hurdles to overcome, especially with financing. Financing does not have to be difficult if you know where to look, but it often pays to start small before setting your sights on large investors. Rather than turning to a big bank for business financing, owners have the option of applying for a commercial loan in Las Vegas with a credit union like Clark County Credit Union (CCCU).
Here are the benefits of getting a commercial loan through a credit union:
- Credit unions are welcoming of smaller businesses
Compared to big banks that may prefer to work with established corporations, credit unions are more accepting of small and growing businesses. Credit unions often have a personal connection to their nearby customers and businesses that could help expand the local economy, especially since small businesses account for the majority of employers in the U.S., Forbes reported. Since credit unions such as CCCU are non-profit cooperatives, credit unions often extend financing offers big banks do not provide.
- Choose from competitive loans
Market priced commercial loans and government guaranteed loans from the U.S. Small Business Administration offered by CCCU. Before applying for an SBA loan, business owners should ensure they are eligible for this type of financing, including operating a small business as defined by the SBA and establishing a clear need for the funds.
- Take advantage of the bonus dividend program
Unlike other financial institutions, CCCU offers a bonus dividend program that benefits qualifying members, including commercial borrowers. In January 2016, the credit union reported extra earnings and more than $3 million of the bonus dividend was paid to members.
- CCCU recognizes entrepreneurs in its core membership
With CCCU being a member-owned institution, the credit union has a membership comprised of a variety of professionals from various fields. This allows the credit union to provide financing for commercial enterprises and business owners who are in the core field of membership in professions like the medical field. For example, medical practitioners like dentists who want to open a new practice or office location are eligible for membership at CCCU. In addition to business owners, their staff is able to apply for consumer account membership. Business owners can also apply for financing for equipment, vehicles, rental space or other needs.
- Getting a commercial loan in Las Vegas
Ready to begin your journey as a business owner? Call CCCU at 702-228-2228 to open a new account or apply for a commercial loan in Las Vegas for your business.