Current Business Rates
Our lowest rates for business loans & savings.
Business Visa Platinum
| Limit, Rate, Fees and Others | Details |
|---|---|
|
Credit Limit |
$1,000 to $49,999 |
|
Interest Rate |
Prime* Rate + 1% to Prime Rate + 5% (Variable Rate) |
|
Grace period for repayment of balances for purchases |
25 Days |
|
Method for computing the balance for purchases |
Average daily balance including new purchases |
|
Other APRs |
Average Cash Advance APR 14.9%. Delinquent rate after two billing cycles = 18.0% |
|
Transaction Fee for Purchases |
None |
|
Balance Transfer Fees |
None |
|
Foreign Transaction Fees |
None |
|
Annual Fee |
None |
|
Transaction Fee for Cash Advances |
3% of advance amount or $5.00, whichever is greater. |
|
Late Payment Fee |
$25.00; Late fee is assessed when payment is 15 or more days past due. |
|
Over Limit Fee |
$20 per occurrence per statement cycle. |
|
Rewards Program |
Free |
*Prime Lending Rate is  as of as published in the Wall Street Journal.
RCU Business Unsecured Lines of Credit
| Loan Amount | Interest Rate | Terms |
|---|---|---|
|
$1,000 to $100,000 |
Prime* Rate + 0.25% to Prime Rate + 5% (Variable Rate) |
12 - 60 Months |
| Loans up to $49,999 | $50,000 to $100,000 |
|---|---|
|
None |
Documentation Fee - $250.00 Loan Fee - 0.25% to 1% |
*Prime Lending Rate is 3.25% as of 01/01/2021 as published in the Wall Street Journal.
RCU Business Secured Lines of Credit
| Loan Amount | Interest Rate | Terms |
|---|---|---|
|
$1,000 to $4,000,000 |
Prime* Rate + 1% to Prime Rate + 5% (Variable Rate) |
12 - 60 Months |
| Loans up to $49,999 | $50,000 to $4,000,000 |
|---|---|
|
None |
Documentation Fee - $250.00 Loan Fee - 0.25% to 1% |
Additional Out-of-Pocket Fees may apply for secured loans.
*Prime Lending Rate is 3.25% as of 01/01/2021 as published in the Wall Street Journal.
RCU Business Unsecured Term Loans
| Loan Amount | Interest Rate | Terms |
|---|---|---|
|
$1,000 to $100,000 |
Prime* Rate + 2% to Prime Rate + 4% |
12 - 84 Months |
| Loans up to $49,999 | $50,000 to $100,000 |
|---|---|
|
None |
Documentation Fee - $250.00 Loan Fee - 0.25% to 1% |
*Prime Lending Rate is 3.25% as of 01/01/2021 as published in the Wall Street Journal.
RCU Business Auto Loans
| Loan Amount | Interest Rate | Terms |
|---|---|---|
|
$5,000 to $100,000 |
Fixed rates between Prime + 0.25% to Prime + 2.25% |
24 - 84 Months |
| Loans up to $49,999 | $50,000 to $100,000 |
|---|---|
|
None |
None |
*Prime Lending Rate is 3.25% as of 01/01/2021 as published in the Wall Street Journal.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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