Business Loans FAQ

Q: What do I need to apply for a business loan?

A: You will need the following information:

  • Employer Identification Number (EIN), state registration and last two years of tax returns
  • Year-to-date (YTD) profit and loss statement, balance sheet and business debt schedule
  • Cash flow statement or ability to create one
  • Recent six (6) months of business bank statements
  • Personal financial statement
Package your loan request with required documents. Learn more by clicking here.
Q: I do not have my Employer Identification Number (EIN). Can I still apply?

A: You must have your EIN to apply for a loan, unless you are registered with the state as a Sole Proprietor.  If you do not have an EIN, you can visit the IRS website to see how you can obtain one.

Q: What if I am not registered with the state?

A: Your business must be registered in Missouri or Illinois. Please visit the Secretary of State website to get started.



Q: I do not have the last two years of tax returns. What should I do?
A: You will need the last two years of your personal and business tax returns to apply for a business loan. If you do not have this information, please reach out to your tax preparer or accountant. You can also visit IRS website to request copies at

Q: How much can I borrow from St. Louis Community Credit Union (SLCCU)?

A: The Credit Union offers:

  • Micro Loans ($10,000 up to $50,000)
  • Commercial Loans ($50,000 up to $5,000,000)
Q: How do I apply for a loan?
A: Currently we are only accepting applications online. Please click here to apply.

Q: After I apply for the loan, when will I be contacted?

A: You will be contacted within three (3) business days of your application.

Q: Do you lend to nonprofits?

A: Yes, we lend to nonprofits, including faith-based nonprofits.

Q: Is there a cost to apply?

A: There is no cost to apply for a business loan.

Q: What services do you offer for my business aside from a loan?

A: You can look to the following partner for further resources and support:

The Small Business Empowerment Center -- offers a wide variety of small business services.

Q: What are the current interest rates and fees?

A: Interest rates and fees may vary and are determined at the time of approval.

Q: I need a business checking account. If I dont have one, where should I go?

A: SLCCU is not offering business checking at this time. However, we do offer a business savings account. We also have a wide variety of personal checking options to fit your needs. If you are looking for a business checking account, please reach out to other area financial institutions.

Q: I have a question about my loan application. Who should I contact?

A: Please submit your questions through your online loan application.  A loan officer will follow up once your question has been submitted. 

Q: How do I make my business loan payment?

A: We offer various types of payment options, such as ACH payments from your main financial institution, through your SLCCU savings account, online bill pay, etc.

Q: How are the proceeds for my loan paid out?

A: This will depend on the type of loan and the needs of your business.