Loans

When you need a little extra help, YNCU has a variety of term loan options to fit your needs. Our business loans can help you achieve your goals sooner. Use your business loan to:

  • Purchase new equipment
  • Make leasehold improvements
  • Borrow for an investment
  • Refinance current debt
  • Simplify your debt

    Getting Started

    At YNCU, we want to help you determine what type of loan options will work best for you.

    To inquire about our loan options, just call or visit our Business Services department at our Sault Ste. Marie Bay Street branch.

    Our Manager of Business Services will be more than pleased to assist you, and answer any questions you may have.

    Contact Us >

    FIXED RATE LOAN Expand/Collapse

    A fixed rate loan is a loan with an interest rate that is set (fixed) for a predefined period of time. The benefit of this feature is that you will know exactly what your payments will be for the whole period that the fixed rate applies.

    YNCU offers secured fixed rate business loans.

    Rate

    Rate is guaranteed for the entire term.

    Terms

    1 to 5 year terms available.

    No Penalties

    Pay down or pay off your loan at anytime, without penalty.

    Payment Options

    Choose from weekly, bi-weekly, or monthly payments.

    VARIABLE RATE LOAN Expand/Collapse

    A variable rate loan is a loan in which the rate of interest fluctuates in response to changes in the prime rate.

    This type of product allows you to take advantage of low interest rate periods. When interest rates fall, you are paying down more on your principal with each payment, and less interest. When interest rates rise with a variable rate loan, the amount of interest increases and your principal payment decreases.

    YNCU offers secured variable rate business loans.

    Rate

    Rate fluctuates during the course of the term.

    Terms

    1 to 5 year terms available.

    No Penalties

    Pay down or pay off your loan at anytime, without penalty.

    Payment Options

    Choose from weekly, bi-weekly, or monthly payments.

    Loan Protection

    The option to include Life Insurance, Critical Illness Insurance, and Disability Insurance on your loan is available to ensure your business is protected.

     

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