Secured term loans up to $250,000 for businesses in Washington, Oregon and Idaho.

Boeing Employees’ Credit Union (BECU) isn’t just for Boeing employees — it’s one of the few credit unions that offers business services, too. Its secured term loans are ideal for business owners looking to finance a midsize project on the cheap — rates stop well below where many lenders start. But its services are limited to business owners in just three states.


Min. Amount


Max. Amount


Product Name BECU business term loans
Min. Amount $10,000
Max. Amount $250,000
Loan Term 1 to 7 years
APR 2.96% to 10.76%
Requirements Be a credit union member

First, do I qualify?

BECU doesn’t have any hard eligibility requirements other than being a business owner and having collateral worth the value of your loan.

To be eligible for membership, your business must meet one of the following criteria:

  • Located in Washington State or an eligible county in Oregon or Iowa 
  • Member of the Northwest Credit Union Foundation
  • Credit Union Services Organization (CUSO) anywhere in the US

What is BECU?

Boeing Employees’ Credit Union is a Washington-based financial institution with branches in select cities in Oregon and Idaho. It offers a range of business services, including secured term loans. With this option, businesses are required to back their loan with collateral — like equipment, inventory or anything else of cash value. If your business can’t repay the loan, BECU takes that asset to make up for the loss.

Eligible businesses can borrow anywhere from $10,000 to $250,000 with terms from 1 year to 7 years. Fixed rates range from 2.96% to 10.76%. If your account goes into default, your rate might increase to 18%, however. There are no application or origination fees, though BECU charges late and returned check fees of $25 each.

What makes BECU business loans unique?

BECU business loans come with some of the lowest rates out there. It also offers a wide range of loan amounts for a credit union — most only provide small-dollar business financing. And by allowing you to back your loan with collateral, it gives your business the chance to potentially qualify for rates or amounts you might not get elsewhere.

What are the benefits of a BECU business loan?

  • Competitive rates. With APRs ranging from 2.96% to 10.76%, BECU offers some of the most competitive rates out there.
  • Limited fees. BECU doesn’t charge any origination or application fees, so you’ll only be on the hook if your payment is late or doesn’t go through.
  • Wide range of loan amounts. Your business can borrow anywhere from $10,000 to $250,000 as long as you have the assets to back it.

What to watch out for

  • Collateral required. Your business is only really eligible for the amount you’re able — or willing — to back. If you only have assets with a cash value of $10,000 to put on the line, then that’s the most you can borrow from BECU.
  • Limited availability. BECU is primarily limited to business owners in Washington and a few select cities in Idaho and Oregon. Though, Credit Union Service Organizations are eligible for funding no matter where they’re based.
  • Can’t apply or join online. While you can download the membership and business loan applications online, you’ll need to print them out and bring them to a BECU branch in person to get started.
  • Complicated application. This credit union might not be the best option if you’re looking for quick financing or don’t have a lot of time to spend filling out forms.

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