Michigan First Credit Union

This is a financial institution that offers SBA loan programs, including the 7A loan, to support small business growth and expansion. You can find personalized lending solutions tailored to your business needs and access to experienced financial advisors who can guide you through the application process.

It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours. Calling ahead can help you prepare and streamline your visit.

The branch typically operates during standard banking hours, from 9:00 AM to 5:00 PM, Monday through Friday. It's best to check directly with the branch for specific hours or any holiday closures.

There are no fees for simply visiting or consulting; however, loan processing and application fees may apply depending on the specific SBA loan program and terms.

This institution primarily serves members and residents of the local community, but business clients from broader regions may also access services based on eligibility and loan requirements.

Typically, a minimum personal credit score of 640 is preferred, but the exact requirement may vary based on the loan type and overall financial profile.

The underwriting process generally takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

Most credit unions keep weekday business hours and are closed on weekends, and Michigan First Credit Union 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 Michigan First Credit Union to confirm current weekend availability before you go.

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

The core details for Michigan First Credit Union — 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 Michigan First Credit Union before applying. If you represent Michigan First Credit Union, claim this listing to keep its information up to date.

You can reach Michigan First Credit Union by phone at (800) 664-3828 or online at michiganfirst.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 Michigan First Credit Union before relying on them.

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