COVID-19 Update 12-10-2020 Holyoke Credit Union will be expanding our drive-thru hours of operation. Starting on Monday, December 14, 2020, the Holyoke drive-thru will be open: Mon.-Thurs. 8AM-4PM, Fri. 8AM -5PM and Sat. 9AM-12PM. The W. Springfield and Feeding Hills drive-thrus will be open: Mon.-Thurs. 9AM-4PM, Fri. 9AM -5PM and Sat. 9AM-12PM. All branch lobbies will remain closed until further notice. All HCU ATMs remain open. Mobile banking, online banking and HCU's Member Solutions Call Center (413-532-7007) will continue to be available. To see a Member Service Representative call 413-341-0133 for Holyoke or 413-278-6840 for W. Springfield or Feeding Hills for an appointment.

SBA Loans

As a dedicated supporter of businesses in the communities we serve, Holyoke Credit Union offers government-guaranteed Small Business Association (SBA) loans to organizations that may not qualify for a conventional loan.

Contact Holyoke Credit Union Commercial Lender Dan O’Neill to get started today!  You can email Dan your small business lending questions at or call him at (413) 532-7007 ext. 1125.

Why an SBA loan?

Securing additional funds through a loan, as well as establishing credit, can be essential to helping small and mid-sized businesses launch, expand, and manage during changing business cycles. The SBA exists to help make credit available to newer, less established businesses that may not qualify for conventional loans.

Benefits of an SBA loan:

  • Available to qualifying businesses for most business needs

  • Lower rates and/or down payments

  • Flexible terms and options

  • Government guaranteed

  • Locally processed and serviced

SBA programs:

SBA 7(a) Loan

Ideal For: For-profit businesses including recent acquisitions.

Loan Limits: Up to $5,000,000. SBA Guarantee cannot exceed $3,750,000.

Learn More about SBA 7(a) Loans

SBA Express Loans

Ideal For: Expedited process for business expenditures.

Loan Limits: Up to $350,000.

Learn More about SBA Express Loans

SBA 504 Program

Ideal for: For-profit businesses looking to purchase long-term assets such as land, buildings, or certain equipment with a net worth less than or equal to $15,000,000 and average net income not greater than $5,000,000 for the past two years. Equity requirement is as low as 10%.

Loan Limits: $50,000 - $5,000,000. ($5,500,000 for manufacturing companies)

Learn More about the SBA 504 Program

Dan O’Neill, our commercial lender,  has more than 20 years of viable small business lending experience throughout Western Massachusetts.