Business Lending

Whether you need to acquire new property, expand current facilities, refinance existing debt, purchase equipment or assistance with working capital needs, our commercial lending team is available to help you with your commercial financial needs.  At Motor City we know that every business is different and so are its financing requirements. Let us tailor a financing solution to meet your needs.

Motor City's Commercial Lending team offers over 50 years of combined local lending experience in all facets including manufacturing, construction and service.  Our Commercial Account Managers, situated locally, understand the needs of local business owners.  We pride ourselves on flexible lending policies and responsive service.

  • Steve Schincariol
  • Fabio Cesca
  • Shawn Knowles

Operating Lines of Credit Expand/Collapse


Motor City Community Credit Union offers a competitive Operating line of credit to fit your growing business needs. The facility which is tied directly to the business chequing account allows the company to borrow only the exact funds needed and does not use a note rollover. This effectively reduces the interest cost to the borrower. Deposits posted to the business account, are applied 100% against the outstanding loan balance.

Available to help finance your accounts receivables and inventory assets, the Operating line of credit can be designed to cater to your exact requirements and may include the following:

  • AR financing from 75% - 90%.
  • Inventory financing from 50%-75% of WIP.
  • Inventory allowances up to 50% of the authorized Operating Line.

Commercial Lending Prime Rate: 3.95% (Effective 2020-03-16)

Since Motor City Community Credit Union is approved under the Export Development Corporation (EDC) loan guaranteed program, loan structures can include (up to 50% of the authorized line) EDC’s guaranteed support.

Our experienced commercial lenders are also available to help and advise whether EDC insurance is right for you.

Term Loans Expand/Collapse


Whether your company is purchasing new or used equipment, refinancing an existing lease or simply looking at restructuring debt to generate working capital, we have a solution to meet your needs.

  • Competitive floating and fixed rate options
  • Terms from 1 to 5 years
  • Amortization up to 10 years
  • Flexible payment terms to meets your seasonal business cash flow
  • Some pre-payment privileges.
  • New equipment financing up to 100%
  • Used equipment financing up to 75%
Commercial Lending Prime Rate: 3.95% (Effective 2020-03-16)

Commercial Mortgages Expand/Collapse


Businesses are encouraged to contact one of our experienced commercial lenders to structure a commercial mortgage which fits their specific needs and cash flow. Financing is available to help new property purchases, small and large expansion plans or restructuring debt under one payment.

  • Financing up to 70% of Purchase Price or Appraised value
  • Floating and fixed rate options
  • Terms from 1 to 5 years
  • Amortization up to 20 years
  • Pre-payment privileges may apply
Commercial Lending Prime Rate: 3.95% (Effective 2020-03-16)

Commercial Leasing Expand/Collapse


Motor City Community Credit Union through its association with Concentra Leasing (Financial) offers a full range of capital and operating leases to help finance equipment purchases. Whether the business is looking to conserve its working capital, managing its leverage or simply looking at an alternative to traditional term financing, a commercial lease might be the solution to fit your needs.

  • Flexible terms with regards to deposits and residual values
  • Terms up to 60 months
  • Competitive pricing
  • Quick turnaround

Letters of Credit Expand/Collapse


Letters of Credit can be made available to satisfy third parties requirements for any of the following:

  • Bonding (quoting) requirements
  • Importing goods or equipment from international countries
  • Maintenance or performance bonding requirements
  • Utilities or any municipal needs
  • Satisfaction of a fixed contract

Terms can be specific to the transaction itself or renewed annually. If a drawdown occurs then funds are financed through a prearranged LOC. Security is required for the Letter of Credit and can include fixed assets, margined current assets or the assignment of a fixed priced contract.


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