Commercial FAQs

I am interested in starting a new business. Can I obtain credit for my start-up costs?

The credit union is eager to help you get started in your new business venture.  We will work with you to evaluate projections to determine the structure and manageability of payments in each unique situation.  You do not have to be an established business to be considered for credit.

Commercial Credit

At Dundalk Credit Union we care about small business and believe in the value of small business to our economy.  We will work with you to find credit solutions that will help your business grow and thrive.  Make an appointment to apply in person at either of our branch locations. Approval decisions and administration are handled locally by our capable staff and we pride ourselves on giving you the answers you need quickly. We offer a variety of credit facilities tailored to meet the needs of your business.  There are no application or renewal fees, and interest rates are competitive and pricing is based on customer circumstances. 

Types of Commercial Credit

Commercial Lines Of Credit

The Credit Union offers Commercial Lines of Credit to qualified borrowers to finance operating expenses. Deposits made to your credit union business account are credited directly to the outstanding balance on your Operating Line of Credit immediately, reducing the amount of interest you pay monthly.  Interest rates are variable and fluctuate with the Dundalk Credit Union prime rate.  Interest is payable monthly at month end and is charged to your credit union business account.  Commercial Lines of Credit are renewable annually.

Commercial Loans

Business owners can obtain loans to finance such things as business equipment, commercial vehicles, expansions or improvements.  Loans can be structured with fixed interest rates set for up to a five year term or with variable interest rates that will fluctuate with the credit union prime rate.  Manageable, scheduled payments are deducted from your credit union business account.

Commercial Mortgages

Whether you are purchasing a new commercial building or refinancing, Dundalk Credit Union can work with you to structure a mortgage that will meet your business needs.  Mortgages on commercial buildings can have fixed interest rates set for up to a five year term or can have variable interest rates that fluctuate with the credit union prime rate.  Manageable, scheduled payments are deducted from your credit union business account.