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Zeal Credit Union

Zeal Credit Union offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth and development. With a focus on personalized service, they provide various loan options including the SBA 7(a) program, which is ideal for funding working capital, equipment, or expansion projects. Their team works closely with clients to understand their unique needs, guiding them through the application process and ensuring competitive terms. Located in Livonia, Michigan, they serve local businesses but also support a broader regional clientele. Their expertise includes supporting industries such as hospitality, retail, and professional services, making them a versatile choice for entrepreneurs seeking reliable SBA financing. The credit union emphasizes community-oriented banking, fostering relationships that help small businesses thrive. They are committed to providing accessible lending options with flexible terms and competitive rates, aiming to empower local economic growth and entrepreneurship.

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Lender Type

Commercial Bank

Google Rating

4.1

Google Review Count

272

Question 1

What is this place and what can I find here?

Answer 1

This is a community-focused credit union offering SBA loan programs and personalized financial services to small businesses. You can find support for business expansion, working capital, and equipment financing, all tailored to your specific needs. Their team is dedicated to helping local entrepreneurs access the funding they need to grow and succeed.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to ensure dedicated time with their lending specialists, though walk-ins may be accommodated depending on availability. Contacting ahead helps streamline the process and ensures you receive personalized assistance.

Question 3

What are the hours of operation?

Answer 3

Their typical hours are Monday through Friday from 9:00 AM to 5:00 PM, but it is best to confirm directly as hours may vary or for special appointments.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for initial consultations; however, standard loan application and closing fees may apply depending on the specific financing arrangement. Details are provided during the application process.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This credit union primarily serves its members, which include residents and small business owners within its community and regional area. Membership eligibility criteria apply, typically based on geographic or employment factors.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of around 650 is generally preferred, but approval depends on the overall financial profile and collateral.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

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

Zeal Credit Union

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