Business Credit Lines and Term Loans

It’s our business to keep your business growing. Patriot has the financing solutions to keep your business moving in the right direction.

Business loans in Chambersburg, PA, Waynesboro, PA and Hagerstown, MD

Patriot offers a variety of business loans including:

  • Working Capital Loans
  • Business Equipment Purchase Financing
  • Business-Use Vehicle Loans
  • Revolving Lines of Credit

Working Capital Loans

Also called a business asset loan, we offer short-term loans to finance tangible and non-tangible assets for business purchases. These business purchases can include furniture and fixtures, tools, leasehold improvements, a permanent investment in your inventory and additional backing for accounts receivable.

  • Fixed-rate installment loan secured by an asset used by the business to conduct day to day operations
  • Maximum loan term: 84 months

Business Equipment Purchase Financing

Is your business in need of the latest equipment to provide money-saving efficiencies and increased productivity? Patriot offers competitive monthly payment options and interest rates to fund an equipment upgrade, purchase a brand new asset, or refinance an existing one. A business equipment loan is ideal for purchasing heavy equipment, manufacturing equipment, medical or dental equipment, and computer systems/IT equipment.

  • Fixed-rate installment loan secured by non-titled equipment used to directly produce a good or service
  • Maximum loan term: 84 months

Business-Use Vehicle Loan

A quality business vehicle can be the difference between a successful business and an unsuccessful one. If your business needs a new, reliable business-use vehicle, Patriot can make it happen. We offer up to 100% financing on business-use vehicles.

  • Fixed-rate installment loan secured by the title of the vehicle being used for business
  • Maximum loan term: 84 months
  • Maximum loan-to-value ratio: 100%

Revolving Lines of Credit

In today’s business world, having access to cash can be a valuable asset for your company. For the ongoing working capital or immediate cash needs of your business, our revolving line of credit provides you with access to funds. It may help you plan during the peak season, fund special projects, purchase additional inventory, or provide liquidity when you need it most.

It can also help you maintain an even cash flow. For example, once receivables are converted to cash, the line can be paid down or paid off. When the need rises again, you can still draw on the line to borrow – without re-applying for another loan.

Apply for a Business Loan at Patriot Federal Credit Union

To apply for a business loan with Patriot, the requirements vary based on the loan amount.

For loan requests of $100,000 or less:

  • Application
  • Personal Tax Returns: Past two years with all schedules to include all K-1’s and W2’s
  • Business Tax Returns: Last year of business tax returns with all schedules
  • Internal P&L and Balance Sheet: If 6 months after the fiscal year end
  • Rent Roll and/or Leases: If loan repayment is dependent on rental income

For loan requests of $100,001 to $999,999:

  • Application
  • Personal Tax Returns: Past two years with all schedules to include all K-1’s and W2’s
  • Personal Financial Statement
  • Business Tax Returns: Past two years of business tax returns with all schedules
  • Business Debt Schedule: To include business debts not found on the Personal Financial Statement
  • Internal P&L and Balance Sheet: If 6 months after the fiscal year end
  • Rent Roll and/or Leases: If loan repayment is dependent on rental income

For loan requests of $1,000,000 and greater:

  • Application
  • Personal Tax Returns: Past three years with all schedules to include all K-1’s and W2’s
  • Personal Financial Statement
  • Business Tax Returns: Past three years of business tax returns with all schedules
  • Business Debt Schedule: To include business debts not found on the Personal Financial Statement
  • Internal P&L and Balance Sheet: If 6 months after the fiscal year end
  • Rent Roll and/or Leases: If loan repayment is dependent on rental income

Note: often times there are other pieces of information needed depending on the loan transaction. Those items could include: Sales agreement, project budget, equipment invoices, etc.

We want to help your small business succeed. Contact or visit us to discuss your ideas and opportunities.

Eric Foreman Karen Boyer
Eric Foreman
Senior Vice President of Business Lending
[email protected] or call (717) 709-2514
Karen Boyer
Business Loan Officer
[email protected] or call (717) 709-2513

All loan rates, terms, and conditions are subject to change at any time.

All loans are subject to credit approval.