Starting a small business and need a helping hand?
e-Business Loans
LAFCU has partnered with CUNA Mutual and Newtek Small Business Finance, Inc. to assist entrepreneurs in establishing or building their small businesses with e-Business Loans. This free service enables you to apply anytime day or night for a small business loan.
Applying is easy and the process takes approximately 60 days. The funds can be used for any business-related purpose, including:
- Starting a new business
- Constructing a building
- Buying out a partner
- Improvements to an existing business
Before you begin the application process, please gather the following information:
- A business plan with two years of projections. For start-up businesses or business acquisitions, your first year projections must be broken down by month
- Personal financial information of each owner/guarantor who will have 20% or more of the interest in the business. Information needed includes jointly-held assets, cash, and checking, savings and brokerage statements
- The most recent personal tax return from each owner/guarantor who will have 20% or more of the interest in the business.
- For an affiliated company, the most recent business tax return.
- For an existing business, business tax returns from the past two years.
- The loan number and current balance of a current or previous SBA loan, if applicable.
Easy Steps for a business loan:
- Click here to provide Newtek with some basic contact information.
- Within two business days, a Newtek Financial Consultant will contact you to help you with the loan application.
- The Newtek Financial Consultant will walk you through the loan application process, and attempt to pre-qualify you. If you are pre-qualified, the consultant will gather remaining information from you for submission of the business loan application.
- Newtek reviews your loan application and informs you of the decision.
- If the loan is approved, the closing process begins. The Newtek Financial Consultant will guide you through the process.
- You choose the time, date, and location to close your loan.
- The loan is funded.
- Newtek services the loan.
Click to apply for a business loan. For personal assistance with your online application, call Newtek at (866) 610-2862 between 6 a.m. and 4 p.m. Pacific Time.