Holyoke CU

This is a local credit union that provides SBA loan options and financial services designed to support small businesses in the Holyoke area.

It is recommended to schedule an appointment to ensure dedicated assistance, but walk-in consultations may also be available during business hours.

The branch is typically open Monday through Friday from 9:00 AM to 5:00 PM, but hours may vary, so it's best to contact ahead.

There are no fees for initial consultations; however, loan processing and closing may involve standard fees disclosed during the application process.

This credit union primarily serves its members, which include residents of the Holyoke area and affiliated communities.

A minimum personal credit score of 640 or higher is generally preferred for loan eligibility.

The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of the application and documentation provided.

Most credit unions keep weekday business hours and are closed on weekends, and Holyoke CU 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 Holyoke CU to confirm current weekend availability before you go.

Holyoke CU is located in Massachusetts — 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 Holyoke CU, an SBA-participating credit union. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Holyoke CU itself, which runs its own lending under its own ownership. If you work at Holyoke CU, you can claim this listing from this page to manage it.

The core details for Holyoke CU — 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 Holyoke CU before applying. If you represent Holyoke CU, claim this listing to keep its information up to date.

You can reach Holyoke CU by phone at (413) 532-7007 or online at holyokecu.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Holyoke CU before relying on them.

Like most SBA lenders, Holyoke CU 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 Holyoke CU 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 Holyoke CU participates in SBA Express depends on its specific SBA lending authority. Contact Holyoke CU 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. Holyoke CU 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. Holyoke CU's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Holyoke CU 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 Holyoke CU 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 Holyoke CU 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 Holyoke CU 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. Holyoke CU weighs this case by case under its own policy, so be upfront about your history and ask Holyoke CU how it evaluates prior bankruptcies.