Indiana Members CU

This is a commercial bank that offers SBA loan programs and financial services tailored for small businesses, including SBA 7(a) loans, with a focus on supporting local entrepreneurs and economic growth.

It's recommended to schedule an appointment to ensure dedicated assistance, but walk-ins may be accommodated depending on availability.

Indiana Members CU Downtown Branch operates Monday–Thursday 8:00am–4:00pm and Friday 8:00am–5:00pm. Please confirm current hours directly with the lender.

There are no fees for simply visiting or consulting; loan fees and rates vary based on the specific financing arrangement.

This bank primarily serves its members and local small business owners within the region, with eligibility based on membership and business criteria.

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

The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of documentation and loan complexity.

Most credit unions keep weekday business hours and are closed on weekends, and Indiana Members CU 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 Indiana Members CU to confirm current weekend availability before you go.

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

The core details for Indiana Members CU — 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 Indiana Members CU before applying. If you represent Indiana Members CU, claim this listing to keep its information up to date.

You can reach Indiana Members CU by phone at (317) 635-7729 or online at imcu.com — 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 Indiana Members CU before relying on them.

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