Northern CU

This is a local SBA lender offering small business loans, including SBA 7(a) programs, to help entrepreneurs access capital for growth and operational needs. You can find personalized support and guidance throughout the loan process to ensure your business gets the funding it needs.

Ask Northern CU directly — some branches take walk-ins, others book SBA conversations by appointment.

Hours vary by branch and change. Check Northern CU's website or call before you visit.

Browsing this directory is free. Any loan fees are set by Northern CU and the SBA program — ask the lender for its current schedule.

This lender primarily serves small businesses in the Watertown region, especially local entrepreneurs and members of the credit union. Business owners outside the area should contact the bank to confirm eligibility.

Many SBA lenders look for a personal score around 640 or higher, but each bank sets its own bar and it changes. Ask Northern CU what it looks for today.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

Most bank SBA teams work weekdays; confirm with Northern CU before planning a weekend visit.

Northern CU is located in New York — see the contact card for the full address. Most credit union locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Northern CU, an SBA-participating credit union. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Northern CU itself, which runs its own lending under its own ownership. If you work at Northern CU, you can claim this listing from this page to manage it.

The core details for Northern CU — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Northern CU before applying. If you represent Northern CU, claim this listing to keep its information up to date.

You can reach Northern CU by phone at (315) 782-0155 or online at www.mynorthern.com/location/watertown — the same details are in the contact card on this page.

Like most SBA lenders, Northern CU can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each credit union sets its own industry preferences and may avoid sectors it considers higher risk. Ask Northern CU directly which industries it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Northern CU participates in SBA Express depends on its specific SBA lending authority. Contact Northern CU and ask if it offers SBA Express and what the current limits and terms look like for your situation.

Whether Northern CU has SBA Preferred Lender (PLP) status is set by the SBA. Ask the bank directly; PLP lenders can approve in-house and often move faster.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Northern CU's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Northern CU directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Northern CU what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Northern CU to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Northern CU to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Northern CU weighs this case by case under its own policy, so be upfront about your history and ask Northern CU how it evaluates prior bankruptcies.