Business Lending
Helping entrepreneurs start, expand, and thrive to stimulate our local economy.
Local decisions. Quick timelines.
From SBA loans to lines of credit and construction loans, we offer solutions for businesses of all sizes and types.
property purchase
Commercial Mortgage
- Flexible terms + amortizations.
- Highly competitive rates.
- Refinances available for existing loans.
WORKING CAPITAL
Commercial Line of Credit
- Financing on demand.
- Inventory purchasing.
- Day-to-day operation coverage.
Asset purchase
Business Equipment
- Essential business needs financing.
- Flexible terms.
- Highly competitive rates.
GOVERNMENT GUARANTEED
SBA Loans
Financing entrepreneurs with:
- Startups.
- Acquisition/expansions.
- Collateral shortfall.
cash back rewards
Credit Card
- 2% cash back on gas purchases.
- 1% cash back on everything else.
- Starting at 10.99% APR1
- No annual fee.
Small Business Administration Loan
If you have a collateral shortfall or a high-risk business situation, it may be more difficult to get loan approval. If this is your situation, we might be able to offer you a solution utilizing an SBA loan. This type of loan can be used to purchase assets or real estate, general business financing, or working capital. Terms are attractive, and we do the leg work with the SBA.
Our Business Lenders.
Julie Olson
Senior Commercial Relationship Manager
Hi, I'm Julie. Coming to you with nearly 25 years of financial institution experience and as a native to Upper Michigan, I promise to craft and offer a dynamic solution to help you reach your business goals. I thoroughly enjoy developing a deep understanding of my client's financial position and working with them to provide local funding. In my free time, you can find me biking, taking long walks with my dog, and spending time with my family.
Nick Kreis
Commercial Relationship Manager
Hi, I'm Nick. I work with members by listening and learning, then plan and propose how to achieve their business goals. The power of locally funded loans, decisions, and service allow me to deliver an unmatched experience. I take pride in tailoring each relationship to fit the member's needs and eliminate any "cookie-cutter" approach, as no two businesses or business owners are alike.
Terry Garceau
Commercial Relationship Manager
Hi, I'm Terry, and with over 30 years of financial institution experience, I'm ready to work with you to help achieve your business goals. I've lived in the Upper Peninsula my entire life. Because Embers is headquartered and managed locally, we can understand your needs and respond quickly with the highest level of service! We value our relationships with our Members, and we're here for you to provide great options to help you be successful. Please let us know how we can help you!
Questions?
We have answers.
How can I apply for a business loan?
All you need to do is get in touch with our business lending team. You can email them or fill out the Business Loan Inquiry Form.
What's the average time for response and approval?
We consider all applicants our partners, so we strive to respond to loan inquiries within 24 hours. Since we make all decisions locally, we can deliver immediate responses when it comes to loan approval. For more complex, high-dollar loans, no more than a few business days.
What information do I need to submit an application?
We'll need some basic business information to get your application rolling. Here's what we'll need:
- Business Name
- Business Address
- Nature of Business
- Annual Net Profit
- Annual Gross Sales
- List of outstanding credit obligations, if any.
What determines my interest rate & terms?
While there are many business-related factors, the top three we take into consideration when drafting rates and terms are:
- Credit score
- Cash flow
- Collateral