Term Loans
Term loans are used to finance the acquisition or modernization of the company's productive assets. Term loans are commonly used for:
- Purchases of machinery, equipment, furniture, fixtures, and to make leasehold improvements
- Additions to long term working capital
- Expansion or modernization of facilities
- Vehicles or other business transportation
The source of repayment is often generated by the enhanced cash flow from these assets. The loan period is determined by the productive life of the assets. For example, loans used to buy computers and office equipment will be shorter in duration than those used to purchase manufacturing equipment.
For more information on any of these products, please contact RCU's Business Services Division at 1 (800) 895-7610 or visit an RCU branch.
To receive quick, accurate answers to your membership questions, call our priority help line at 1 (877) 545-4100 or visit any RCU branch.
Redwood Credit Union accounts are insured to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency.
