Lending solutions for new and growing businesses.
Members Choice has a number of business lending solutions for members, dependent on the unique needs of the small business. The diverse needs of small businesses makes it difficult to pinpoint interest rates on business loans, for more information on our rates and lending options please contact our business lender. Our business lending can be broken into four main categories:
1. Business Credit Cards
Business credit cards are a useful tool to assist with managing and organizing monthly purchases. Unlike the other types of lending, a business credit card is generally for smaller expenditures. However, a Members Choice Business Platinum Credit Card enables multiple executives in a business to use separate cards on the same account. All of the expenditures from the various cardholders are then kept on a single bill. With our low credit card interest rates, you can keep your business up and running.
2. Business Lines of Credit
Business lines of credit can help you manage your short-term capital needs, such as funding payroll, or managing seasonal fluctuations in cash flow. Most new businesses can expect a period of loss before they turn a profit. During that difficult building period, you may need extra money to cover your costs. Members Choice can help you cover your monthly bills through an open line of credit that can cover your losses until your business becomes profitable.
3. Business Term Loans
Business term loans are used for your intermediate term financing needs. These types of loans are usually used for equipment purchases, debt consolidations, and vehicle loans. Once you make it through the growing pains of starting a new small business, you may want to consider expanding the business to reach more customers. Business term loans can help you grow your business with both versatility and low interest rates.
4. Business Mortgages
Business mortgages are for your business’ real estate purchases and expansions. The rules governing business mortgages and their interest rates are essentially the same as the rules for regular mortgages. A business mortgage from Members Choice can help you open up a new physical or online store, expand your work force, and buy better equipment. With Members Choice you can create the business you’ve always wanted.