Let’s walk through the application process.
First things first. Your business must be at least two years old for it to qualify for a Linn Area Credit Union business credit card. (Is your business at least a toddler? Excellent!) Plus, you’ll need to be a Linn Area Credit Union member. (If you don’t have a business account with us, you’ll need to start there.)
Now that we’ve gotten that out of the way (whew!), here’s the list of the documents you’ll need to provide:
- Business credit card application
- Two years personal tax returns
- Two years business tax returns
- Biennial report
- We will be happy to pull a biennial report for you, but please check the Secretary of State’s website to make sure your business is active with a current biennial report. (If your business has not filed your most recent biennial report, you may have been administratively dissolved and will need to reinstate the business entity first.)
- Sole proprietorships need to have trade name paperwork instead of the biennial report
Tips on filling out the application
We recommend reviewing the application to make sure you have all the necessary info handy before you begin filling it out. (You won’t be able to save the application and come back to it later!)
If your business (or any other businesses with common ownership) already has loans at Linn Area Credit Union, please include the total dollar amount of your loans in the very first field where it asks for aggregate outstanding credit exposure. If you don’t know the total, you may leave it blank.
The requested amount in section A should reflect the combined amount that will be divided into individual limits for authorized signers. (You’ll break the amount down by authorized signers on the servicing form, which is later in the application.) For example, if you need five authorized signers, each with their own card and their own signing limit of $12,000, then the total requested amount should be $60,000.
Once the application is submitted, it will come directly to a commercial account specialist for review. If you’d like, you may proactively drop off your tax returns at the nearest branch; otherwise, we’ll reach out to you to set up a time to receive the documents from you. (If you choose to drop them off, please let us know that you’re applying for a business credit card, so we route your materials to the proper person.)