Medina County Federal Credit Union

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Business Lending

Contact:
Jonathan Mokri
Business Development Officer
(440) 526-8700

For more than 50 years, we have been serving our members with loans and other financial services. Our staff brings the same experience and dedication to our Business Lending. We customize terms based on your needs and we make decisions quickly because our management team is right here in your community.

We started in this community, we exist only to serve the people in this community, and we want to help you and your business grow with our community.

For more information about business lending, call MedFed's Business Development Officer, Jonathan Mokri, at (440) 526-8700. Jonathan will talk with you about your objectives and work with you to find an option that helps you grow your business.

Term Loans

• Purchase of capital assets
• Permanent working capital
• Business acquisition
• Refinance of existing business debt
• Generally $25,000 to $2,000,000 per transaction
• First lien via UCC filing and loan security agreement on business assets sufficient to fully secure the transaction
• Generally 12 months to 180 months
• Fixed and variable rate options are available

Commercial Real Estate Loans

• Purchase or refinance of commercial, industrial, and investment property
• Generally $25,000 to $7,500,000 per transaction
• Up to 80% LTV for owner / user properties
• Up to 75% LTV for investment properties
• First lien filing on the subject property
• Terms up to 15 years
• Amortizations up to 25 years

Lines of Credit

• Available for any general business purpose
• Generally $50,000 to $500,000
• First UCC filing together with a loan security agreement on accounts receivable, inventory, machinery, equipment, general intangibles, or any other available collateral that will fully secure the loan facility
• Line of credit facilities are generally reviewed on an annual basis. Rest period requirements may vary.
• Variable rate spread over the Wall Street Journal Prime Lending Index
  

SBA PROGRAMS

SBA7(A)
This product can be used for business start‐ups, business expansions, business acquisitions, commercial real
estate purchase, machinery & equipment purchase, working capital, and debt refinance. Required equity
injections for the borrower can be as low as 10%.

• Loans up to $5,000,000 per transaction
• Terms up to 25 years
• Variable rate spread over the Wall Street Journal Prime Lending Index

SBA504
This product provides a growing business with long term financing for major fixed assets such as land and
building purchase or expansion or machinery & equipment purchase. A portion of the financing offers fixed rates
up to 20 years. Required equity injection for the borrower can be as low as 10%.

• Loans up to $5,000,000 per transaction
• Terms up to 20 years
• Fixed and variable rates available

 

Notice to Members with Business Accounts
Certain transactions are prohibited from being processed through your account with Medina County Federal Credit Union under the Unlawful Internet Gambling Enforcement Act of 2006. The federal government requires us to inform our commercial account holders of this restriction. Unlawful internet gambling means to place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use of the internet where such a bet or wager is unlawful under any applicable Federal or State law in which the transaction is initiated, received or otherwise made. Restricted transactions means any of the following transactions or transmittals involving any credit, funds, instrument, or proceeds initiated by any person engaged in the business of betting or wagering or knowingly accepting of same in connection with the participation of another person in unlawful internet gambling.

• Credit or the proceeds of credit, extended to or on behalf of such person (including credit extended through the use of a credit card);
• An electronic fund transfer or the proceeds of an electronic fund transfer or money transmitting service from or on behalf of such other person; or
• Any check, draft or similar instrument that is drawn by or on behalf of such other person and is drawn on or payable at or through any financial institution.

Internet gambling will generally be deemed unlawful unless expressly authorized by a license issued by an appropriate State or Tribal authority. As a member of Medina County Federal Credit Union these restricted transactions are prohibited from being processed through your account. If you do engage in an internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.