Discovery Federal Credit Union

This is a community-focused financial institution offering SBA loans, business banking services, and financial guidance for small businesses in the area.

It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours.

Discovery Federal Credit Union operates Monday through Thursday from 9:00 AM to 5:00 PM, Friday 9:00 AM to 6:00 PM, and Saturday 9:00 AM to 12:00 PM. Please confirm directly with the credit union for current hours.

There are no fees to access basic banking services, but loan applications and certain transactions may have associated fees disclosed during the process.

Membership is generally open to residents and small business owners within the community or those who meet specific eligibility criteria.

A minimum personal credit score of around 650 is typically preferred, but this can vary based on the loan and applicant profile.

The process usually takes between 2 to 4 weeks, depending on the complexity of the loan and completeness of the application.

Discovery Federal Credit Union is open on Saturday mornings from 9:00 AM to 12:00 PM, but closed on Sundays. For SBA lending staff weekend availability, contact the credit union directly at 610-372-8010.

Discovery Federal Credit Union is located at 2744 Century Boulevard, Wyomissing, PA 19610. For parking details and directions, contact the credit union at 610-372-8010.

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

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

You can reach Discovery Federal Credit Union by phone at (610) 372-8010 or online at discoveryfcu.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 Discovery Federal Credit Union before relying on them.

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