Small Business

Starting a small business is an exciting venture, but succeeding at business is a complicated proposition.

Sno Falls Credit Union would like to be a part of your success.  We offer our member-owners the accounts and services to help you achieve your financial goals.  And we now proudly extend the same value-added services and savings to our member-business owners to help promote successful small businesses in our community.


Small Business Checking Accounts

Take advantage of our Small Business Checking account that offers no monthly service fee and does not require a minimum balance. For business owners, that means you can manage your payables and receivables easily and without the added expense.

Featured Benefits

  • $100 minimum to open
  • No monthly service fee*
  • First 150 monthly transactions are free**
  • Free Cash Deposits**
  • Free Visa® Debit Card
  • Surcharge Free access at over 85,000 ATM’s
  • Free Online Banking
  • Free Bill Pay
  • Free e-Statements

 


Small Business Savings (Share) Accounts

Take advantage of our convenient savings accounts for competitive returns for your business’ short-term and long-term savings needs.

Featured Benefits

  • $25 minimum to open
  • No monthly service fee*
  • Dividends paid

Small Business Money Market Accounts

Our convenient money market account offers competitive returns for your business’ short-term and long-term savings needs.

Featured Benefits

  • $2500 minimum to open
  • No monthly service fee*
  • Competitive Dividends paid

SBA Loans

As an approved Small Business Administration (SBA) lender, Sno Falls Credit Union is able to provide creative financial solutions to meet your business needs.

Types of SBA programs we offer:

  • 7(a) Loans – General purpose loans up to $1 million

Our SBA lending solutions include:

  • Purchase of business occupied land and improvements
  • Construction of new facilities
  • Purchase of business including intangible assets
  • Refinancing of existing debt
  • Purchase of equipment
  • Financing of inventory
  • Working capital

Maximum Maturity

Use of Proceeds Term (years)
Working capital 10
Inventory 10
Fixtures and furniture 10
Machinery and equipment* 10
Land and building 25
Construction** 25

*For M&E the term can extend beyond 10 years if the useful life will support a longer term but cannot exceed 25 years.  **For construction the term of the loan can exceed 25 years by the additional time needed to complete the improvements.

At Sno Falls Credit Union, our team is dedicated to working with small businesses to develop the solutions that are right for your unique needs. We pride ourselves on personal service and helping you achieve your goals.

Contact one of our Business Bankers today to learn more.

 


USDA Business & Industry Loans

Types of USDA programs we offer:

  • Business and Industry (B&I) Loans – up to $1 million

What does this program do?
This program bolsters the existing private credit structure through the guaranteeing of loans for rural businesses, allowing private lenders to extend more credit than they would typically be able to.

How may funds be used?

  • Business conversion, enlargement, repair, modernization, or development
  • Purchase and development of land, easements, rights-of-way, buildings, or facilities
  • Purchase of equipment, leasehold improvements, machinery, supplies, or inventory
  • Debt refinancing when new jobs will be created and other conditions are met
  • Business and industrial acquisitions when the loan will keep the business from closing and/or save or create jobs

What is an eligible area?

  • Any area other than a city or town with a population of greater than 50,000 inhabitants and the urbanized area of that city or town.
  • The borrower’s headquarters may be based within a larger city as long as the project is located in an eligible rural area

Projects may be funded in rural and urban areas under the Local and Regional Food System Initiative

Check eligible addresses for business programs

Maximum Advance Rates

Real Estate 80% of fair market value
Equipment 70% of fair market value
Inventory 60% of book value (raw inventory and finished goods only)
Accounts Receivable 60% of book value (less than 90 days)

 

Maximum Maturity

Real Estate 30 years
Machinery and Equipment useful life or 15 years, whichever is less
Working Capital not to exceed 7 years

 

Contact one of our Business Bankers today to learn more.

 


Merchant Card Services

Give your business a boost by accepting credit and debit card payments. SFCU makes these transactions simple, affordable and free from worry.

Featured Benefits

  • Month-to-month contract
  • Wireless and mobile options for home-based or mobile businesses
  • Second day credit for Visa, Mastercard, and Discover cards
  • Compatibility with most networks, registers and terminals
  • 24/7 access to customer service

Call today for a no-obligation cost comparison.  (425)-888-4004

SFCU has partnered with ACI Merchant Systems, LLC to provide this service. You’ll need to have a Sno Falls Small Business Checking account to be eligible.

 


* If signed up for e-statements, otherwise a $3 monthly paper statement fee applies.  Member initiated fees and additional fees may apply, see fee schedule for complete details.

** The first 150 transactions are free, .10 each additional transaction over 150.  Free monthly cash deposits up to $15,000, $1.25 per $1,000 over $15,000.

 

All Washington state residents are eligible to join.

Routing Number: 325182360 | Copyright © 2017 Sno Falls Credit Union. All rights reserved.

Equal Housing Opportunity Federally Insured by NCUA