Lower East Side People’s Federal Credit Union
Description
Lower East Side People’s Federal Credit Union offers tailored financial services primarily focused on small business lending, including SBA-backed loans. They provide accessible financing options to help entrepreneurs and small business owners grow and succeed, with a focus on community development and member support. Their expertise includes SBA 7(a) loans, which are ideal for working capital, equipment, and real estate purchases, with approval amounts up to $25,000. The credit union emphasizes personalized service and community engagement, making it a reliable partner for local businesses seeking flexible financing solutions.
Location
Review
Login to Write Your ReviewThere are no reviews yet.
Q&A
Lender Type
Commercial Bank
Google Rating
3.5
Google Review Count
69
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused credit union that offers SBA-backed loans and small business financing services designed to support local entrepreneurs and small businesses.
Question 2
Do I need an appointment or can I walk in?
Answer 2
Appointments are recommended, but walk-ins are accepted based on availability. It"s best to call ahead to ensure personalized service.
Question 3
What are the hours of operation?
Answer 3
The credit union is typically open from 9:00 AM to 5:00 PM, Monday through Friday. Hours may vary on holidays or special occasions.
Question 4
Is there a fee to use this?
Answer 4
Fees are competitive and transparent, with minimal charges for processing or service fees. Specific fees depend on the loan type and amount.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
Membership is open to residents and members of the community who meet eligibility requirements. Non-residents may need to meet specific criteria to join.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 650 or higher is generally preferred for loan approval.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 1 to 3 weeks, depending on the complexity of the application and completeness of documentation.