Business Loans And Business Line of Credit

When you run a business, agency, practice, or firm, opportunity does not always wait for the perfect cash flow moment. You may need to upgrade equipment, cover operating expenses, hire support, expand your space, invest in technology, or simply create more breathing room between receivables and payables.

But when access to capital is limited, even the right next step can feel harder than it should. And for busy business owners, a complicated lending process creates one more thing to manage when your time is already stretched.

That is where Farmers Insurance Federal Credit Union can help.

Our Business Banking Loans and Business Lines of Credit are designed to give professional businesses flexible, practical financing options for today’s needs and tomorrow’s plans. We offer business lending solutions with clear terms, personalized service, and a team with insights to help you move forward with confidence.

Ready to take the next step?

Explore your Business Loan and Business Line of Credit options below, then contact us today. 

(Clicking contact us opens an email to our business lending team. Add a brief note about your business loan needs. Send it, and we’ll be in touch.)

Financing for professional businesses like yours.

Our Business Banking solutions can help support:

• Practice or office expansion
• Equipment purchases or upgrades
• Technology and software investments
• Working capital needs
• Payroll or operating expenses
• Business renovations
• Marketing and growth initiatives
• Cash flow gaps between receivables
• New service lines or business opportunities

Whether you’re growing your team, upgrading your tools, or simply creating more breathing room in your budget, the right financing can help you make decisions with greater confidence.

Why choose Farmers Insurance Federal Credit Union?

Our team brings a helpful, practical approach to business lending. We know that small business owners have competing demands and responsibilities, and we aim to make the process as clear and straightforward as possible. You can expect attentive support, thoughtful guidance, and a lending experience focused on your business goals.

Rates shown are the lowest available rates and are subject to credit approval, underwriting criteria, collateral, and creditworthiness.

Business Loan and Business Line of Credit FAQs

What is a Business Loan?

A Business Loan provides a one-time lump sum of funds that your business repays over a set term with scheduled payments. Depending on your loan, fixed or variable rate options may be available. It can be a smart choice for planned expenses, larger purchases, or longer-term business investments.

What can I use a Business Loan for?

You can use a Business Loan for expenses such as equipment, inventory, business improvements, technology upgrades, working capital, expansion, or other business needs that help you keep moving forward.

What is a Business Line of Credit?

A Business Line of Credit gives your business access to funds up to an approved credit limit. You can draw from the line as needed, repay what you use, and access available funds again during the draw period without having to reapply for additional funds.

What can I use a Business Line of Credit for?

A Business Line of Credit can help with cash flow, seasonal expenses, short-term operating costs, inventory, unexpected expenses, new opportunities, or timing gaps between payables and receivables. You only borrow what you need when you need it.

What is the difference between a Business Loan and a Business Line of Credit?

A Business Loan is typically best for a specific purchase or planned expense because you receive funds upfront and repay them over time.

A Business Line of Credit is typically best for ongoing or changing needs because you can access funds as needed, up to your approved credit limit.

How much can I borrow?

Loan and line of credit amounts vary by product and may depend on creditworthiness, business financials, collateral, loan purpose, and other underwriting criteria. See the product details above for current borrowing limits.

What are the rates?

Rates vary by product and may depend on loan type, credit profile, term, collateral, and other factors. Business Loans may offer fixed or variable rate options. Business Lines of Credit have variable rates based on the Wall Street Journal Prime Rate plus a margin.

Are there any fees?

Fees may vary by product. Any applicable application fees, origination fees, or other costs will be clearly disclosed before you finalize your Business Loan or Business Line of Credit. There is $250 non-refundable application fee for the Business Loan (Fixed and Variable) and the Business Line of Credit. Closing costs for all products described above is 1% of the total loan amount with a maximum of $2,500.

Is there a minimum FICO^® Score requirement?

Yes, there is a minimum FICO^® Score of 680 for all products mentioned above. Approval may also depend on business history, income, debt obligations, collateral, and overall creditworthiness.

Do I need to be a Credit Union Member to apply?

Yes, membership is required. If you are already a Member, you can apply as a current FIGFCU Member. If you are not yet a Member, you can join during the application process by opening a Membership Savings Account with a minimum $5.00 deposit.

What information may be needed to apply?

You may need to provide business and personal information, business financials, tax documents, ownership details, and information about how the funds will be used. Additional documentation may be requested during underwriting.

How do I apply?

Getting started is easy. Select Inquire Now to open an email with a pre-filled subject line. Add a brief note about your business loan needs, send it to our business lending team, and we’ll follow up with next steps.

Inquire Now