Business Term Loans

With Secured and Unsecured Term Loans, you can get the cash your business needs for expansion projects, repairs and/or business debt consolidation with the convenience of predictable repayment terms over a fixed period of time.

Secured Term Loan

  • Low rates
  • NO prepayment penalties

Terms Available

  • A fixed 5-year term with a 5-year amortization
  • A fixed 5-year repayment term with a 10-year amortization; a balloon payment of the outstanding balance (if applicable) will be due after 5 years and must be paid off or refinanced at the end of the fixed repayment term.
  • A fixed 10-year term with a 10-year amortization
  • A fixed 10-year repayment term with a 20-year amortization; a balloon payment of the outstanding balance (if applicable) will be due after 10 years and must be paid off or refinanced at the end of the fixed repayment term.

Property Type - Acceptable

  • Owner occupied 1, 2, 3 or 4-unit properties
  • Doublewide mobile homes built after June 1976, on a permanent fountation, title retired
  • Condominiums or townhouses foundation, title retired
  • Vacation homes or investment property (1-4 units)
  • Agricultural properties
  • Mixed-use properties

Property Type - Unacceptable

  • Properties with cesspools, cisterns, spring water
  • Properties located in an industrial or commercially zoned area
  • Properties with gravity heat
  • Properties owned by a trust as identified on the deed
  • Time-share properties
  • Properties with gas/oil well or coal mining
  • Singlewide mobile homes

Collateral is required. This is a closed-end loan. Borrower may pay costs for third party verifications. LOANS IN PERSONAL NAME(S): Borrow up to 80% of the appraised value, less any liens on the property being mortgaged. PSECU must be first or second lien holder. Minimum loan amount $5,000. There is a 5-year term maximum for loan amounts of $50,000 and less and 10-year term maximum for loan amounts of $50,001 or more. Existing PSECU Secured Business Term loans may be refinanced for additional funds of $5,000 or more. A current personally titled residence, vacation home or investment (rental) property that is located within Pennsylvania may be used as collateral. Check with a qualified tax advisor to determine if the interest may be tax deductible. LOANS IN A BUSINESS NAME(S): Borrow up to 80% of the appraised value on loan amounts from $5,000 to $100,000. Borrow up to 70% of the appraised value on loan amounts greater than $100,000. PSECU must be first lien holder. Minimum loan amount $5,000. There is a 5-year term maximum for loan amounts of $50,000 and less and 10-year term maximum for loan amounts greater than $50,000. Existing PSECU Secured Business Term loans may be refinanced for additional funds of $5,000 or more. A current residence, vacation home, 1-4 unit investment (rental) property, mixed-use property or agricultural property that is located within Pennsylvania may be used as collateral. Check with a qualified tax advisor to determine if the interest may be deductible.

Unsecured Term Loan

  • Low rates
  • NO prepayment penalties

Terms Available

  • A fixed 5-year term with a 5-year amortization
  • A fixed 5-year repayment term with a 10-year amortization; a balloon payment of the outstanding balance (if applicable) will be due after 5 years and must be paid off or refinanced at the end of the fixed repayment term.

No collateral required. This is a closed-end loan. Minimum loan amount $5,000. Maximum repayment term for initial loans and refinanced balloons is 5 years. Maximum initial loan amount or balloon refinanced is $50,000. Check with a qualified tax advisor to determine if the interest may be tax deductible.

NOTE: Any business secured or unsecured term loan with an initial amortization greater than the fixed term may be refinanced for a fixed 5 year term with a 5 year amortization or a fixed 10 year term with a 10 year amortization depending on the remaining balance of the balloon payment. Existing PSECU Business Term loans, secured or unsecured, may be refinanced for additional funds of $5,000 or more.