BOULDER, Colo.–Elevations Credit Union is promoting the growth of its Business HELOC product.  It said the product is “especially useful” for small businesses without large assets, although it is available to businesses of any size.

“We want to help all types of businesses thrive — those that are well-established as well as help them meet and surpass their goals.” 

What’s Offered

The Elevations Business HELOC offers: 

• Long-term liquidity: 10-year draw period followed by a 10-year repayment period 
• Low-cost origination: $250 credit toward closing costs 
• Affordable payments, including interest-only payments during the draw period; interest may be tax-deductible for your business 
• Fast processing: Local, in-house underwriting and processing for fast turnaround times 

Elevations CU is reporting $2.4 million in Business HELOC loans since it launched. 

Elevations said it also started offering business equipment loans in January 2025. Available for used and new equipment, the loans can finance a wide variety of equipment, including construction, manufacturing, office technology and more. 

newer organizations,” Todd Peyok, SVP of business banking and commercial lending, said in a statement. “Our business members’ success is our success, and we hope these lending products