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P.O. Box 51770 | Bowling Green, KY 42102-6770 | (800) 759-8500 | ABA Routing Number: 283978357

Business Loan FAQs

How is borrowing from a credit union different from borrowing from a bank?

Credit unions have members who are also owners. These members have voting power and receive dividends in many cases. Banks have clients, usually with limited or no voting power.
From a lending standpoint, credit unions and banks have very similar processes. Credit unions believe in the importance of relationship lending and supporting their local communities – they often times fund business loan opportunities through a syndication model to manage their risk and their regulatory lending cap.


What is your timeline to close an average business loan?

Once the application and complete loan package have been submitted to Cooperative Business Services (CBS), the process generally takes 30 to 60 days to underwrite the request and finalize the loan closing.


What fees are charged during the business loan process?

The fees charged on our business loans are generally comprised of an application fee, a loan origination fee and the standard industry third party fees like title, appraisal, and environmental. Non-real estate transactions will often times not require title, appraisal, or environmental expenses.


Who is required to sign personally on a business loan?

Generally, those individuals who own 20% or more of the borrowing entity must sign personally on the business loan. This may vary depending upon the transaction type and the ownership structure.


What documents are needed to submit a loan request?

The documents necessary to review a business loan request are listed on the front of our business loan application. For a more detailed list, please click here.

Please contact Sean Riley at Cooperative Business Services, LLC at (502) 533-3136 or by emailing with questions about your business loan needs.