Easily cover the costs of your business
Our small business lines of credit lets you borrow what you need, when you need it, to keep operating your business.
Running a business takes a lot of capital, which is why we offer business lines of credit—so you can rest easy knowing you have the ability to cover your costs when you need it.
Unsecured line of credit
Get a line of credit with no collateral needed.
Secured line of credit up to $4,000,000
Get more funds to use for your business.
Secure your funds for anywhere from 12 to 60 months.
No loan fees on lines up to $49,999
Save more money with no loan fees.
Good to know
Documentation and loan fees
Credit lines of $50,000 and over have a documentation fee from $250 and loan fee of 0.25% to 1%.
Third party expenses
Additional third party expenses may apply for secured loans (i.e., appraisal, inspection, reports, etc.).
Variable interest rates
Most lines of credit over $50,000 will have a variable interest rate.
For secured lines of credit, accounts receivable, inventory, or other business assets are often used as collateral.
Complete an online application
You'll need your Social Security number and driver license.
Get the cash you need, when you need it.
Manage your money online
Easily manage your money with online and mobile banking.
Mike and Jenny share their journey of starting a new business with support from RCU, and what local banking means to them.
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Why Choose RCU?
At RCU, we’re passionate about helping our Members improve their lives. If you want a credit union that keeps your unique needs in mind and helps you envision and manage your financial future, the friendly experts at RCU are here for you.
Best in State Credit Union by Forbes Magazine
That’s how many chats, emails, and calls were served by our local Member Service Center in 2021.
Have a question?
At RCU, we're known for our reliable service, and we'll answer your questions and calls quickly.
Access available cash flow when you need it
Secure the funds you need to keep your business running smoothly.
Business Line of Credit Form
*You may bring all completed forms into any RCU branch or mail it to the following address:
Redwood Credit Union
Attn: Business Services
P.O. Box 6104
Santa Rosa, CA 95406-0104
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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