NCBL’s professional and experienced team will be your resource and point of contact as you discuss your business idea or specific commercial loan request.  Once you provide your financial information, we will underwrite your loan request. If your request is approved, NCBL will document, close, and service your loan. In the case of a real estate purchase loan, we will work with your local title company in order to arrange and facilitate your loan closing.

During the term of your loan, our team is also available to answer any questions, and as a resource for your future borrowing needs.

It would depend on the specific nature of your request, but minimum requirements are typically:

• A completed, signed, dated Personal Financial Statement
• The most recent two years of filed Federal income tax returns (all the pages) for any individual borrower(s)
• If a business entity (corporation, LLC, partnership) is included on a Borrower’s Schedule E, we require the most recent two years of filed Federal Income tax returns for each global entity
• Signed, dated Purchase Agreement for real estate purchase
• Signed, dated Equipment Invoice for equipment purchase (including a year/make/model and/or equipment description)
• Maximum Offer Price for a prequalification request

NCBL utilizes Risk Based Pricing. Very simply, that means that a borrower’s interest rate is lower when the objective risks of the transaction (related to cash flow, collateral, and credit history) are lower; and higher if the risks of the transaction are higher. In order to assess those factors, we need to gather and analyze information. Our process is very efficient, but if you are looking for an immediate or specific rate, we can generally tell you (based on information you provide) if your request is realistic; and whether proceeding with underwriting is advisable.

Once we have a complete underwriting packet, our underwriting to approval process is typically 5-7 business days. We underwrite in the order received, based on a complete packet of information.  More complex deals with multiple borrowing entities will require more extensive underwriting and we may have questions for you during that process.

Our Personal Financial Statement (PFS) is available on the NCBL website and is the first step in your NCBL application process. The PFS must be completed by each individual borrower, and should be signed, dated, and current at the time of application.  Please be sure to answer all the check-box questions.

A PFS should accurately disclose the borrowers’ current values for any assets (things you OWN), and liabilities (things you OWE).  The amounts should be accurate current values for your assets; and the TOTAL amounts owed (NOT the monthly payment) for your liabilities.

If you have any debt that would NOT be reported on your personal credit report (business debt for example), please provide additional detail, including the amount owed, the name of the Creditor, and the monthly payment.

We do not utilize a minimum score requirement; but we do ask that any borrower be current on all debt obligations; and that a reasonable explanation be provided in writing for any prior past due credit notations.

Yes, as long as you qualify for membership for at least one of our five participating credit unions (Bridge Credit Union, Commodore Perry Credit Union, Erie Community Federal Credit Union, Firelands Credit Union, Impact Credit Union). To qualify for membership, you must either work, worship, live, or attend school in one of their membership counties (see each credit union’s website for details).