Granite FCU

This is a community-focused financial institution offering SBA lending solutions, including 7(a) loans, to support small business growth and development in the Salt Lake City area.

It's recommended to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours.

The branch operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment upon request.

There are no fees for consultation; however, loan application and processing fees may apply depending on the loan terms.

This institution primarily serves its members, who are typically residents or small business owners within the community.

A minimum personal credit score of 640 is generally preferred, but approval depends on overall financial health and collateral.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of the application and documentation provided.

Most credit unions keep weekday business hours and are closed on weekends, and Granite FCU typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Granite FCU to confirm current weekend availability before you go.

Granite FCU is located in Utah — see the contact card for the full address. Most credit union locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Granite FCU, an SBA-participating credit union. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Granite FCU itself, which runs its own lending under its own ownership. If you work at Granite FCU, you can claim this listing from this page to manage it.

The core details for Granite FCU — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Granite FCU before applying. If you represent Granite FCU, claim this listing to keep its information up to date.

For business lending, contact Granite FCU at BusinessServices@granite.org or (801) 288-3000. Verify current business lending hours and services availability directly with the lender.

Like most SBA lenders, Granite FCU can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each credit union sets its own industry preferences and may avoid sectors it considers higher risk. Ask Granite FCU directly which industries it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Granite FCU participates in SBA Express depends on its specific SBA lending authority. Contact Granite FCU and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established credit unions hold PLP status, but it varies by institution. Granite FCU can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Granite FCU's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Granite FCU directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Granite FCU what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Granite FCU to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Granite FCU to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Granite FCU weighs this case by case under its own policy, so be upfront about your history and ask Granite FCU how it evaluates prior bankruptcies.