Northern Streamlined Business Loan

Your small business needs some extra money to purchase equipment, inventory or for operating expenses. The Northern Streamlined Business Loan is the perfect solution.

This loan was created with one goal in mind – help small businesses grow and thrive with a fast, hassle free application process conducted by the Branch Manager.

Who’s eligible?

All member businesses.

Features

•		We’ll lend you up to $25,000, or as little as $5,000 depending on your needs.
•		We‘ve tried to keep the rate low. It’s a fixed rate that’s set at 6% above prime.
•		This loan is available as a Term Loan only.
•		There is a maximum 60 month amortization period.
•		It’s available as a blended monthly payment only.
•		Simple Security Package: General Security Agreement and Personal Guarantee if required.
•		The application fee is equal to 1% of the amount you borrow (minimum $100).
•		You can prepay at any time without penalty.
•		Life insurance is mandatory, and we also suggest that you consider disability coverage.

Benefits

•		There are no annual reviews required.
•		It’s a fixed monthly payment.
•		You receive life insurance coverage.
•		We’re able to process your loan application in-branch, meaning it’s an incredibly quick approval process, usually less than 24 hours.