Hope FCU
Hope FCU is an active SBA lender in Mississippi, a credit union offering SBA-guaranteed small-business loans. Currently rated 2.9 stars across 35 Google reviews.
$5M
in SBA approvals since 2010
16
SBA loans funded
Childcare & Early Education · Auto Dealers & Sales · General Retail
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Hope FCU
Hope FCU offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, working capital, or acquisition needs. As a trusted financial institution, they provide flexible loan options with personalized assistance throughout the application process. Their SBA program expertise helps clients navigate the complexities of loan requirements, ensuring a smoother experience from application to approval. With a focus on community development, Hope FCU supports local entrepreneurs by offering competitive rates and dedicated service. Whether you're starting a new venture or expanding an existing business, they are committed to helping you achieve your goals with tailored financial solutions and expert guidance.
Serves SBA borrowers in 2 states
Hope FCU has funded SBA loans for businesses in these states, by borrower location. Tap a state to see every lender serving it.
Common questions about Hope FCU
What is this place and what can I find here?
This is a community-focused financial institution offering SBA loan programs, small business financing, and personalized banking services to support local entrepreneurs and small businesses.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours.
What are the hours of operation?
The branch operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment on request.
Is there a fee to use this?
There are no fees for basic consultations; however, loan processing and application fees may apply depending on the service.
Who is this open to — anyone, or only residents/members?
This institution primarily serves members of Hope FCU, but non-members can access certain services with membership eligibility.
What minimum personal credit score does this lender look for in a guarantor?
A minimum personal credit score of 620 is generally required for loan qualification.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 45 days, depending on the complexity of the loan and completeness of documentation.
Is this open on weekends?
Most credit unions keep weekday business hours and are closed on weekends, and Hope FCU 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 Hope FCU to confirm current weekend availability before you go.
How do I get there and where do I park?
Hope FCU is located in Mississippi — 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.
Who owns or operates this listing?
This page is an independent directory listing for Hope FCU, an SBA-participating credit union. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Hope FCU itself, which runs its own lending under its own ownership. If you work at Hope FCU, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Hope 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 Hope FCU before applying. If you represent Hope FCU, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Hope FCU by phone at (601) 965-7100 or online at hopecu.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 Hope FCU before relying on them.
What core industries does this lender traditionally choose to finance?
Like most SBA lenders, Hope FCU 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 Hope FCU directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this lender?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Hope FCU participates in SBA Express depends on its specific SBA lending authority. Contact Hope FCU and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this lender have Preferred Lender Provider status with the government?
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. Hope FCU can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this lender?
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. Hope FCU's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Hope FCU directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
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 Hope FCU what down payment it expects for your specific commercial real estate purchase.
Does this lender impose prepayment penalties on short-term working capital facilities?
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 Hope FCU to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this lender to buy out an existing equity partner?
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 Hope FCU to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
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. Hope FCU weighs this case by case under its own policy, so be upfront about your history and ask Hope FCU how it evaluates prior bankruptcies.
