With a Closed End Loan, Teachers will give you an initial disbursement of funds that can be used for financing one-time expenditures. That means you can finance machinery and equipment, or get a term loan for working capital for your business – when you need it. 

  • Closed End Credit Current Prime Rate: 3.25%
  • Maximum loan: $500,000
  • Variable Interest Rate: Prime Rate + Margin, adjusted quarterly
  • $500 packaging fee on term loans and line of credit loans $100,001 and above

Application Form

To apply, print out the following forms and drop off at your nearest Teachers branch or mail to: Business Lending Department, Teachers, PO Box 9005, Smithtown, NY 11787-9005.

Your business must have longevity of at least one year to complete this application.

  1. Teachers Business Loan & Line of Credit Application
  2. Personal Financial Statement (For loans higher then $25,000)
  3. IRS Tax Return Transcript Request

For any help in completing this application or if your business has less then one year longevity, please call a Teachers Business Development Officer at 631-698-7000 x 1687 or at business@teachersfcu.org.

Loans are subject to credit approval.

Business owners must be members or eligible for membership at Teachers and must provide personal guarantees for loan request.

RATES SUBJECT TO CHANGE.