Altra FCU

This is a financial institution that offers SBA loan programs and small business financing solutions, providing expert guidance and personalized service to help entrepreneurs secure funding.

Appointments are recommended for personalized service, but walk-ins are accepted depending on availability. It's best to call ahead to schedule a consultation.

Altra FCU's Onalaska branch lobby is open Monday-Friday 9:00am–5:00pm and Saturday 8:00am–noon. Drive-up service runs Monday-Friday 7:30am–5:30pm and Saturday 8:00am–noon. Confirm specific hours with the branch.

There are no fees for simply visiting or consulting; fees apply only when processing loans or financial services, which will be disclosed upfront.

This institution primarily serves members of its credit union and small business owners within its regional service area, but they may consider other applicants based on eligibility.

A minimum personal credit score of 640 is generally recommended, but approval depends on overall financial health and business viability.

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

Yes, Altra FCU's Onalaska branch is open on Saturdays from 8:00am–noon for both lobby and drive-up services. Verify with the branch directly.

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

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

You can reach Altra FCU at (800) 755-0055 or submit inquiries through their Member Contact Center at altra.org/contact. For SBA business lending, contact Samuel Cummer at scummer@altra.org or 608-787-4568.

Based on its approved SBA loans, Altra FCU most often finances businesses in manufacturing, restaurants & food service, fitness & recreation, general retail, salons, spas & personal care, and construction & contractors. This reflects Altra FCU's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Altra FCU which sectors 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 Altra FCU participates in SBA Express depends on its specific SBA lending authority. Contact Altra 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. Altra 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. Altra FCU's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Altra 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 Altra 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 Altra 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 Altra 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. Altra FCU weighs this case by case under its own policy, so be upfront about your history and ask Altra FCU how it evaluates prior bankruptcies.