LAF CU

This is a commercial bank that offers SBA-backed loans and financial services tailored for small businesses. You can find assistance with funding options like SBA 7(a) loans, guidance throughout the application process, and personalized support to help grow your business.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, though walk-ins may be accommodated based on availability. Calling ahead can help streamline your visit and prepare necessary documentation.

LAF CU is open Monday through Friday from 9:00 AM to 5:30 PM, with branch locations throughout Michigan. Be sure to confirm current hours with your specific branch location.

There are no fees for simply visiting or consulting with the bank. However, loan applications and processing may involve fees such as guarantee fees, closing costs, or service charges, which are disclosed during the application process.

This bank primarily serves small business owners and residents within the Lansing area and surrounding regions. Eligibility for specific programs may depend on local residency or business location.

A minimum personal credit score of around 640 is generally preferred, but qualifications can vary based on the loan type and overall financial profile.

The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of your application and the complexity of your financial situation.

LAF CU is open on Saturdays from 9:00 AM to 12:00 PM (noon). Sunday hours are not listed. Confirm the Saturday hours with your specific branch location.

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

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

You can reach LAF CU at (517) 622-6600 or through their online contact/appointment system at lafcu.com/contactus — for business lending inquiries, ask for the business lending department. Confirm current availability when calling.

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