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MSUFCU's Back to Business Loan Helps Small Businesses During COVID-19

 
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Published: Jul 14, 2020

MSUFCU's Back to Business Loan Helps Small Businesses During COVID-19

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EAST LANSING, Mich. — MSU Federal Credit Union (MSUFCU) is introducing its Back to Business Loan to help small businesses affected by the COVID-19 pandemic.

 

This loan will help these businesses remain a vital part of the community.

 

“We recognize the importance of small businesses to thriving communities, as well as our role in supporting them,” said Deidre Davis, MSUFCU Chief Marketing Officer. “We are proud to introduce the Back to Business Loan, designed to help businesses in our community continue their operations, create opportunities for new talent and growth regionally, and energize the economic base.”

 

The Back to Business Loan offers loan amounts of up to $40,000, with an APR of 5%. Two options are available for members:

  • Terms of up to 60 months, with no payments for 90 days. 
  • Twelve-month line of credit with interest-only payments (no 90-day payment deferral option). Then, terms of up to 48 months with standard principal and interest payments.

For more information or to apply for a Back to Business Loan, visit msufcu.org/backtobusiness.

 

MSUFCU has a national reputation for excellence and has received several top industry and workplace awards. The Credit Union was named as a Top Workplace in the large employer category by the Detroit Free Press for eight consecutive years, received a 5 star rating from Bauer Financial in 2020, and was named a Top 100 Best Workplace for Women by Fortune for the third year. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years, received the ATHENA Award® for Organizational Leadership, and was named West Michigan Best and Brightest to Work For the eighth year in a row. The Credit Union earned the ranking of one of Michigan’s Best and Brightest in Wellness for the eighth consecutive year, and has been certified as a Great Place to Work® for six consecutive years. MSUFCU has also been recognized for its financial education initiatives, ranking first for the Alphonse Desjardins Adult and Youth Financial Education Awards, and the Louise Herring Award as well as an honorable mention for the Dora Maxwell Award by the Michigan Credit Union League. Founded in 1937, MSUFCU is headquartered in East Lansing, MI, has 20 branches, nearly 300,000 members, more than $5 billion in assets, and more than 900 employees. For more information, visit msufcu.org.

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