Better Service, Better Terms, Better Solutions for Your Business

Work with an experienced professional that treats you like you own the place – because you do! With us, you are far more than a single commercial loan transaction, you become a Member and Owner. In addition, the collaboration of five Chicago area legacy credit unions, comprising over $1 billion in combined total assets, offer you and your business access to the financial services needed to succeed and the capital required to achieve that success.

Frequently Asked Questions

What is Spectrum Business Resources, LLC?

Spectrum Business Resources, LLC is a Credit Union Service Organization (“CUSO”) providing financial services to business and professionals and formed by five Member Credit Unions including Abri Credit Union (Romeoville, IL), HealthCare Associates Credit Union (Naperville, IL), Consumers Credit Union (Rolling Meadows, IL), NorthStar Credit Union (Warrenville, IL), and NuMark Credit Union (Joliet, IL).

Want to know more about Credit Unions?

Credit Unions in the United States serve 100 million members, comprising 43.7% of the economically active population. U.S. Credit Unions are not-for-profit, cooperative, tax-exempt organizations. Total Credit Union assets in the U.S. reached $1 trillion as of March 2012. There are over 7000 independent Credit Unions in the United States.

How does a Credit Union differ from a bank?

Banks

Banks are businesses operating to maximize the value of their stock.

Credit Unions

Credit Unions operate as Not-For-Profit entities. All income earned is either retained or distributed to Members (depositors).

So How Do I Get a Commercial Loan?

The most important factor in securing financing is the ability to provide a compelling argument that the business has the resources to repay the loan. Financial institutions will use depositors’ money to fund loans. Accordingly, they have a fiduciary responsibility, enforced by their federal regulators, to demonstrate sound lending practices and the ability to assure that the depositors’ money will be protected against loss.

What information will be needed to process my loan request?

Ownership will be asked to provide confirmation of the loan purpose, supporting background on the business and ownership, collateral details, and other supporting documents that help the Lender understand and underwrite the loan.

Supporting information is requested and analyzed by an experienced Lender.
A formal loan presentation is made to a committee (5-10 days from receipt of all financial information)
Committee approves, denies, or modifies the loan request (2 days)

Refinancing existing debt with another Bank or Seller at better terms
Working capital loans – secured and unsecured
Practice acquisition or partner buy-out financing

What are the advantages of working with Spectrum Business Resources and the affiliated Credit Unions?

Your Credit Union Lender is a Not for Profit business that is not distracted by the need to maximize the market value of a traded or sold ownership interest in the Lending Institution. Instead, your Credit Union Lender is focused you and your business whom they depend upon to maintain their own business, through services they provide at favorable terms not designed to maximize their profits, but to maintain a sound relationship with their members.

Business Funding

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