Elevations Business HELOC Features
- Long-term liquidity:
10-year draw period followed by a 10-year repayment period - Affordable payments:
- Interest-only payments during the draw period
- Interest may be tax-deductible for your business
- Fast processing:
Local, in-house underwriting and processing for fast turnaround times
Payment example variable: 6.99% annual interest rate during the interest‑only term equals approximately $5.83 per $1,000 borrowed per month. Once the interest rate is fixed during the 10‑year repayment term, an estimated rate of 6.99% equals approximately $11.60 per $1,000. The rate may vary depending on each individual’s credit history and underwriting factors. All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice.
Easy, three-step process
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2. We’ll reach out
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3. You’ll get a quick decision
Commonly Asked Questions
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When you get a HELOC for your business, you can use it for just about any business expenses, from renovations to equipment purchases.
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This depends on your specific situation. We recommend talking with your banker to review your options.
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Since Elevations is based in Colorado with a local, in-house underwriting and processing team, you can often receive your funds in as little as two weeks once we get your application. Document collection and appraisal can affect this timeline.
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You may be able to deduct business HELOC interest payments from your business’s taxes. Please talk to your tax advisor for more information.
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The amount you're able to borrow varies based on different factors like your credit score, available home equity and more. The best option is to complete this quick form so our Business Banking Team can talk through your options.
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You can use either your primary residence or an investment property as long as the property is located within our field of membership.
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This depends on the collateral and the loan amount requested. For details specific to your situation, please speak with your Local Business Banking Relationship Manager.
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Multiple types of businesses, including LLCs, may be able to get a business HELOC. Talk with a team member to learn more about how this product fits your specific business.
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A business HELOC uses a personal home to fund a line of credit for business expenses, but a personal HELOC uses those funds for personal expenses.
More ways we can help your business
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Business Credit Cards
Start your applicationBusiness spending power with no annual fees, competitive rates, and rewards
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Business Lending
Learn moreA range of revolving lines of credit and loans to keep your business moving forward
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How can we help you?
Give us a call at (800) 429-7626 | Routing #307074580
$5 one-time membership fee and membership eligibility due at account opening.
*Annual percentage rate
^Annual percentage yield
**All credit union loan programs, rates, terms and conditions are subject to change at any time without notice. Rate shown as low as for qualified borrowers. Rate may change dependent on credit qualifications and underwriting factors. Please speak with an Elevations representative for more information. Offers of credit are subject to membership requirements and credit approval.