- Completed and signed business loan application
- Business Tax Returns under existing ownership (most recent 2 years)
- Business plan may be required
- Personal Tax returns for all owners/guarantors (most recent 2 years)
- Financial Statements (Balance Sheet, Profit and Loss, A/R A/P Aging Report, Debt Schedule)
- Personal Financial Statement for all owners/guarantors pdf
- Additional documentation may be required
Already a Navy Federal member, but not yet a Business Solutions member?
Already a Business Solutions member and ready to apply for a line of credit?
- Business Line of Credit
- Call 1-877-418-1462, 9 am to 5 pm, Mon-Fri ET and request to be connected with a business lending representative.
- Checking Line of Credit
- Fill out and sign our application form PDF and Beneficial Owner form PDF (if required).
- Scan and save all files as PDFs or JPEGs before submitting along with any other required documentation via our Business Loan Application Submission Link.
Please allow two to three business days to process a fully completed application.
A business line of credit (BLOC) is a credit product and rates are based on creditworthiness and will vary with the market based on The Wall Street Journal Prime Rate. A business checking line of credit (CLOC) is a credit product with a fixed rate of 17.9% APR. CLOC repayment terms are 2% of the outstanding balance or $20, whichever is greater and the total outstanding balance will be due when it is less than $20.↵
Eligible collateral may include: accounts receivable (up to 80% of qualified receivables and requires an all business assets lien); inventory (with advance rates determined by underwriting); and qualified real estate (with Navy Federal in first lien position).↵
Fees include: Annual fee of $325 for equity up to $100,000; 0.5% origination fee for limits greater than $100,000; lien search and recording fees may apply.↵
Not to be used for real estate ventures.↵
The initial $50 annual fee is assessed with the first statement.↵