Business Loan Options and When to Use Them
Whether launching your first venture, expanding operations, or investing in new property, choosing the right loan can significantly impact your business’s success. At People Driven Credit Union, we offer a variety of business financing solutions, each designed to support different stages of growth. Here’s a breakdown of three core lending options and when they might fit your business.
1. Term Loans: Ideal for Established Growth
Best for: Purchasing equipment, expanding services, hiring staff, or launching a new product line.
Term loans provide a one-time lump sum of funding you repay over a fixed period. These are great for planned investments with a clear budget and timeline. Predictable monthly payments and competitive fixed or variable interest rates will benefit you.
- Fixed repayment schedule
- Great for long-term business investments
- Flexible terms tailored to your business plan
2. Business Lines of Credit: Ideal for Flexibility
Best for: Managing seasonal cash flow, covering unexpected expenses, or bridging revenue gaps.
Think of a line of credit like a financial safety net—you borrow only what you need when needed. Interest is only charged on the amount you use, making this an ideal option for businesses that need working capital without committing to a large loan up front.
- Revolving credit you can reuse as it’s repaid
- Pay interest only on what you use
- Ideal for short-term or recurring cash needs
3. Commercial Real Estate Loans: Ideal for Expansion
Best for: Buying, renovating, or refinancing commercial property.
If you’re ready to move into a new location, expand your current footprint, or refinance an existing property loan, a Commercial Real Estate Loan from PDCU could be the perfect fit. With fixed and variable rate options, we offer terms designed to align with your long-term business goals.
- Use funds to purchase, build, or renovate commercial spaces
- Competitive interest rates with flexible repayment schedules
- Tailored to your property investment needs
Not Sure Which Loan Is Right for You?
Choosing the a financing option for your growth stage depends on your business’s current and future state. That’s why our Commercial Loan Specialists take the time to understand your unique goals before recommending a solution.
Let’s find the right fit together.
Call us at 248-263-4100, email us, or visit a branch to schedule a no-obligation consultation.
At People Driven Credit Union, we’re not just funding businesses—we’re building futures.
