Need a commercial loan?

Today’s strong economy might have you thinking about opening your own business, building a franchise, developing real estate or expanding your current facilities.

 If you’re in the market for a commercial loan, be sure to check out Financial Plus Credit Union as part of your business planning.

 Member-owned since 1952, Financial Plus Credit Union puts your interests first, whether you’re looking for a Small Business Administration (SBA) loan, lines of credit, equipment loans, investment and owner-occupied real estate, to name a few.

 Headquartered in Flint with locations throughout Genesee, Livingston and Saginaw counties, including an office in Fenton at 15125 Silver Parkway, Financial Plus Credit Union works where you work.

 Because many banks and credit unions offer similar commercial products, the difference to the borrower is in how the loans are handled at a credit union like Financial Plus.

 “We can offer you much more value than just the funding of a loan,” said Nathan Orange, Director of Commercial Lending for Financial Plus. “We know our markets very well, and our staff lives in the areas we lend. We understand what the trends are and where the development is happening. We’re very consultative with our businesses and look at ourselves as partners.”

 At Financial Plus, all approvals are done internally. “We don’t use a credit scoring model where if all the ‘boxes’ are not checked it is an automatic ‘No,’” said Orange. “We work very hard to find a way to finance the deal, if there’s a way to do it, and we get back to the borrower quickly. If needed for larger loans, we can also use Credit Union Service Organizations (CUSOs).”

 The approval-to-close process is also quick, according to Orange. “We maintain control over the process from start to finish,” he said. “Our documentation is done in-house. It’s not sent to a centralized department or out of state.”

 It’s a philosophy of partnership that works well between credit unions and their members.

  “Our lending philosophy doesn’t change overnight,” said Orange. “Even during the recession 10 years ago, credit unions continued to lend. We look at each deal individually.

Other than monitoring global portfolio concentration limits, we don’t jump in or out of industries on a whim.”

 For the best possible commercial loan scenario, Orange has only one request: to fully understand your business plan.

  “The best recommendation I can give is for us to sit down and talk about the need for financing, a structure that makes the most sense for everyone and how to get it done in the shortest time possible,” said Orange.

 He also suggests that you shop around. “Don’t limit yourself to one institution; check at a few places, as you may have a viable request, but it may not be a fit for them,” said Orange. “We try very hard to find financing for a borrower, but if we can’t help them for some reason, we try to find alternative options.”