BECU Review

The Boeing Employees Credit Union (BECU) was created in 1935 as a means for the company's employees to lend to each other at affordable rates. In 2002, membership was expanded to allow anyone living in Washington state to apply, and the credit union now offers a range of small business loans to its members.

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    What loans BECU offers

    The lender has four small business loans on offer:

    • Term loans
    • Vehicle loans
    • Lines of credit
    • Commercial real estate loans

    How BECU works

    BECU has a range of different terms and rates depending on what loan you take out. Basic information includes:

    Term Loans

    • Borrow between $10,000 and $250,000
    • Interest rates start from 2.81%
    • Repayment terms up to 84 months
    • No origination fees

    Commercial vehicle loans

    • Borrow up to 100% of the vehicle’s value
    • Terms up to 72 months
    • On vehicles up to two years old, interest rates start at 2.99%
    • On vehicles more than two years old, interest rates start at 3.74%
    • No origination fees

    Lines of credit

    • Borrow between $2,500 and $100,000
    • Interest rate of 9% on amounts borrowed up to $9,999
    • Interest rate of 5% on amounts borrowed above $10,000
    • Annual fees between $50 and $100

    Commercial real estate

    • Borrow between $250,000 and $15 million
    • Rates and repayment terms are disclosed on the application

    All business loans will also be subject to late charges of $25 per payment.

    How do I qualify for BECU?

    Only members of the credit union are able to access its business loans. Membership is open to anyone living in the state of Washington, one of 10 counties in Oregon, or one of 10 counties in Idaho. Your business must also be registered in one of these areas. The lender doesn’t provide any additional information on qualifying criteria, other than stating that your creditworthiness will be a consideration.

    BECU Pros And Cons


    • Low interest rates
    • Good range of loans on offer
    • No origination fees


    • Loans are restricted to those based in a limited geographic area
    • The application process can be lengthy
    • Additional fees apply

    How do I apply for BECU? 

    You’ll need to fill in a contact form on the website and specify which loan you’d like to apply for. A loan specialist will get back to you to arrange an appointment to discuss your application. This usually means an appointment in one of BECU’s branches. The lender doesn’t say how long the full process will take, but traditional lenders can often take 30 days or more to arrange funding.

    Documents I need to apply for BECU

    The lender doesn’t disclose its document requirements before you apply, and these will be requested as you progress through your application. Typically, lenders will request business bank account statements as a minimum.

    BECU for bad credit

    We can’t recommend the lender for those with bad credit, as credit requirements aren’t made clear. Sometimes credit unions can assist members with poor credit histories, but you’ll need to contact customer service and ask directly to confirm this.

    BECU customer support

    You can call the customer helpline, fill in an online contact form, or make an appointment in-branch if you have a query.


    Despite some low interest rates and long repayment terms, the membership requirements here will exclude most applicants. You might want to try an alternate lender like PayPal. It has few barriers to entry, fast applications, and no credit requirements.