How Affinity Can Help Your Business Thrive

Date: May 17, 2022 

It is National Small Business Week and at Affinity Federal Credit Union, we are dedicated to helping people turn their ideas into actions.

In a study done by the White House¹ 5.4 million Americans applied to start a new business in 2021, which is 20% higher than any other year on record. These statistics are staggering, and it shows that people are leaving their traditional jobs to start a business. We offer many different options to assist small businesses in reaching their goals.

For many, choosing the right financial institution to work with can be difficult, and business owners rely on their financial institution to provide them with the financing to build and grow their business. As a credit union, we are committed to providing quality service and products tailored to meet the needs of our business members. We can offer support for all of your small business needs including:

• Expand your growing business with a small business loan
• Maximize your working capital with business lines of credit
• Manage day-to-day purchases with our online banking resources
• Refinance existing commercial debt/mortgage to save money
• Consolidate existing debt to improve cash flow and save money
• Purchase investment properties and commercial vehicles

Business Lending & Credit Options

We currently offer a wide variety of business lending and credit options that are tailored to your specific needs. We can help you select the short or long-term borrowing options. Our business specialists will take the time to understand your business goals and provide you customized solutions with competitive rates and flexible payment schedules. Business Lending Solutions include:

• Commercial mortgage loans
• Commercial term loans
• SBA loans
• Commercial lines of credit
• Visa® Business First® Credit Card with Rewards²
• The Business Overdraft Advantage³

 Affinity can also assist with business banking needs. Affinity offers versatility when choosing the right checking account for your business needs, with the Business Basics Checking⁴ and the Business Performance Checking⁵. The Business Basics Checking is great for small to medium-sized businesses and fulfills all of your basic banking needs. The Business Performance Checking is ideal for businesses with high transaction volume and higher balances, and optimal for larger businesses with more complex cash management service needs.

There are also business savings accounts that are offered, such as the Business Savings account, Business Money Manager account, and Certificates that earn dividends at competitive rates. Our savings accounts help owners maximize their earnings while still retaining liquidity, and to help save more for your business’ next big step.

Whether you're starting a new venture or are well established, Affinity has products and services for each stage of your business. Learn more about our Business Membership Advantage⁶ today!

This information is for informational purposes only and is intended to provide general guidance and does not constitute legal, tax, or financial advice. Each person’s circumstances are different and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and/or legal counsel to discuss your specific needs before making any financial or other commitments.

1. Retrieved from: https://www.whitehouse.gov/briefing-room/statements-releases/2022/04/28/fact-sheet-the-small-business-boom-under-the-biden-harris-administration/
2. Retrieved from: https://www.affinityfcu.com/business-banking/business-credit-card
3. Retrieved from: https://www.affinityfcu.com/business-banking/business-overdraft
4. Retrieved from: https://www.affinityfcu.com/business-banking/business-checking-accounts
5. Retrieved from: https://www.affinityfcu.com/business-banking/business-checking-accounts
6. Retrieved from: https://www.affinityfcu.com/business-banking/business-member-benefits