Financing from $500 with APRs capped at 10.15% — but only for Washington State businesses.

  • Best for business loans under $25,000.
  • Pick something else if you don’t live in Washington State.


Min. Amount


Max. Amount


Product Name Sound Credit Union business loans
Min. Amount $500
Max. Amount $25,000
Loan Term Up to 6 years
APR 6.15% to 10.15%
Requirements 2+ years in business, eligible for membership

How much will this loan cost me?

Sound Credit Union business loans typically come with with rates from 6.15% to 10.15% and there are no application, origination or prepayment fees.

You can borrow between $500 and go up to $25,000 with terms as long as 6 years.

We weren’t able to verify the rates and terms when we called customer service in June 2020. The representative we spoke with suggested filling out an online form to see what rates and terms your business might qualify for. But you can use the calculator below to find out how much a loan within these ranges might cost.

Business loan calculator

See how much you’ll pay

Your loan
Loan amount
Loan terms (in years)
Interest rate

Fill out the form and click on “Calculate” to see your estimated monthly payment.


Compare business loans now

How it works

Generally, factors like your credit score, revenue and time in business can affect your loan amounts, rates and terms. For example, there are no minimum credit requirements but you’ll need to have a personal credit score of at least 700 to be eligible for the largest loan.

Like with most credit unions, longer loan terms typically lead to higher interest rates. These loans are generally unsecured. But if your business needs the full $25,000, Sound Credit Union typically asks businesses to back the loan with an asset like equipment, inventory or real estate.

What do I need to qualify?

To be considered for a Sound Credit Union business loan, you must meet the following criteria:

  • In business at least two years
  • Eligible for membership

While there are no minimum revenue or credit score requirements, Sound Credit Union will factor into your application.

Membership eligibility

Business owners must be eligible for Sound Credit Union membership as an individual to become a business member. You must meet one of the following criteria:

  • Work, live or go to school in Washington
  • Work for one of its select employer groups
  • Be related to someone who meets one of the above requirements

What information do I need to apply?

Sound Credit Union might ask to see the following documents:

  • Your business licenses
  • Tax returns
  • Bank statements
  • Profits and loss sheets

What industries does Sound Credit Union work with?

Sound Credit Union doesn’t disclose which industries are eligible for its loan program. However, you may have a hard time qualifying if your industry is considered high-risk. These can include industries like trucking, construction, lending and gambling.

What other types of financing does Sound Credit Union offer?

In addition to small business loans Sound Credit Union offers the following types of business financing.

SBA loans

Sound Credit Union offers loans backed by the Small Business Administration (SBA) — in fact, it’s a preferred SBA lender. This means it has the authority to underwrite loans instead of relying on the SBA, which can speed up the turnaround time. However, it doesn’t specify which loan programs it offers.

Business lines of credit

Sound Credit Union offers secured and unsecured lines of credit starting at $5,000 with terms as long as 10 years. Businesses can make interest-only repayments on each withdrawal for the first 12 months.

Vehicle loans

You can find loans to buy a new vehicle for your business or refinance a current loan. This includes large specialty vehicles in addition to business passenger vehicles and trucks. SBA funding is also available for vehicle financing.

Commercial real estate loans

Financing for buying an office, warehouse, retail building, multifamily complex and more. This credit union offers funding for both owner-occupied nonower-occupied properties.

Pros and cons

Sound Credit Union business loans aren’t available to all small businesses. Weigh the pros and cons before you decide to apply


  • Low maximum APR of 10.15%
  • Loans as low as $500 from this nonprofit lender.
  • No origination fee


  • Locations limited to Washington State
  • Loans over $50,000 are available, but you have to apply in person
  • Long terms come with high rates

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