FAQ
Business Loan FAQ
Associations
Required documentation:
- Proof of Tax ID Number
- Copy of Charter, or Bylaws, or Articles of Organization
- Specific Letter of Request from the Association
- Minutes from most recent meeting to identify officers, title and nature of Organization
Corporation (C and subchapter S): All owners or the Corporation’s business location must be within the Credit Union’s field of membership.
Required documentation:
- Proof of Tax ID Number
- Certificate of Good Standing – MS Secretary of State Website
- Corporate Resolution or Minutes from Corporate Meeting (must be signed by Corp Secretary)
- Reference this document to confirm responsible individuals that have authority to open deposit accounts for this business
LLC: All members of the LLC or LLC’s Business location must be within MEFCU’s field of membership.
Required documentation:
- Proof of Tax ID Number
- Certificate of Good Standing – MS Secretary of State Website
- LLC Operating Agreement
- Reference this document to confirm responsible individuals that have authority to open deposit accounts for this business.
Partnership (General, Limited, Limited Liability, Joint Venture): All members of the LLC or the LLC’s business location must be within MEFCU’s field of membership.
Required documentation:
- Proof of Tax ID Number
- Certificate of Good Standing – MS Secretary of State Website
- Copy of Partnership Agreement
- For Limited Partnerships: Certificate of Limited Partnership
Sole Proprietor: Owner must be within MEFCU’s field of membership.
Required documentation:
- Proof of Tax ID Number (if not using own SSN)
- Business License
Yes – the business owner must be an MEFCU member; however, regarding a business loan, the business owner can wait until the loan gets approved (but before funding) before joining.
Your business home address must be within our field of membership (Hinds, Rankin, Madison, Simpson, Copiah, Attala, Claiborne, Covington, Holmes, Jasper, Jefferson, Jefferson Davis, Jones, Lawrence, Leake, Lincoln, Neshoba, Newton, Scott, Smith, Warren, Winston, and Yazoo Counties in Mississippi).
A business plan is a written document that describes in detail how a business—usually a startup—defines its objectives and how it is to go about achieving its goals.
Visit these sites to get your business plan started: