Centra Credit Union

This is a financial institution offering SBA loan programs and banking services tailored to small businesses. You can find information about loan options, application processes, and support for business growth.

It is recommended to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours.

The branch operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment.

There are no fees for initial consultations; however, standard banking and loan application fees may apply.

This service is primarily available to members of the credit union, which requires membership eligibility.

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

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

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

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

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

You can reach Centra Credit Union by phone at (812) 376-9771 or online at centra.org — 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 Centra Credit Union before relying on them.

Based on its approved SBA loans, Centra Credit Union most often finances businesses in construction & contractors and manufacturing. This reflects Centra Credit Union'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 Centra Credit Union 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 Centra Credit Union participates in SBA Express depends on its specific SBA lending authority. Contact Centra 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. Centra 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. Centra Credit Union's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Centra 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 Centra 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 Centra 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 Centra 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. Centra Credit Union weighs this case by case under its own policy, so be upfront about your history and ask Centra Credit Union how it evaluates prior bankruptcies.