Finty
SCCU

SCCU Business Loan

Term loanSecured

A Secured Business Loan to start, buy or grow a business. Variable and fixed rate options available

Written byDavid Boyd

6.33%

interest rate a year, from

Establishment fee
Not published
Monthly fee
Not published
Borrow
Not published

Loan details

Rates

Interest rate (a year)
6.33%–7.54%
Rate type
Fixed or Variable
Security
Secured
Type of finance
Term loan

Limits and fees

Loan amount
Not published
Loan term
1 year to 5 years
Establishment fee
Not published
Monthly fee
Not published

How it compares

Against the other secured business loans we compare. Typical means the middle half of them.

Cost of $20,000 over 5 years

$3,384

Interest and fees at its starting rate. Typical is $4,517.

Longest term

5 years

3 years is the usual longest term.

Pros and cons

Pros

Nothing stands out.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 6.33% to 7.54%, and only some people get the starting rate.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.