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Business Lending Made Simple: Q & A with Jennifer Soule, Business Services Lead
Whether you're just getting started or planning your next phase of growth, having the right financial tools is essential to running a successful business. At Kitsap Credit Union, we understand that each business has unique needs—and that’s why we offer a variety of lending options designed to support you at every stage. In this Q&A with Jennifer Soule, KCU Business Services Lead, we asked Jennifer common questions about our business vehicle loans, lines of credit, and other solutions. She shares how these solutions can help you manage operations, preserve cash flow, and plan confidently for the future.
“We offer a wide range of business lending solutions designed to support your goals, from managing daily expenses to funding major growth,” Jennifer shared. “Each option is designed to help your business grow with confidence and financial stability.”
Some of these options include:
Business Vehicle Loans
“Let’s start by talking about Business Vehicle Loans,” Jennifer said. “These loans help finance the purchase of cars, vans, trucks, or other commercial vehicles essential to your operations. They offer structured payments and competitive fixed rates—ideal for preserving working capital.
“It might be a good fit if:
“The vehicle typically serves as collateral, and loan terms can often be tailored to fit your needs.”
We asked Jennifer what the benefits of a Business Vehicle Loan are, and she shared, “Financing a vehicle through a business can help keep personal and business finances separate, which may support better credit management and financial organization. While the impact on credit can vary depending on how the business is set up, separating business expenses from personal ones can lead to clearer accounting and possible tax benefits.* Business vehicle financing can also provide predictable payments, help manage cash flow, and may offer certain deductions.”
When asked if there are any common mistakes businessowners make with vehicle loans, Jennifer said, “Yes— one common pitfall is obtaining a business-use vehicle under a personal name, which can lead to complications with registration and may reduce access to potential tax benefits.* It might also result in added steps or expenses later on. To help avoid these issues and ensure everything is set up properly, it's a good idea to consult with a business financing expert before making a purchase. They can help make sure the financing is aligned with your business needs from the beginning.”
Looking to apply for a Business Vehicle Loan? You can apply online anytime. We offer pre-approvals, which help you confirm your credit and income eligibility before you shop. Pre-approvals are good for 45 days, giving you time to find the right vehicle with confidence and a clear budget in hand.
Business Line of Credit
Have you considered a Business Line of Credit? Wondered what purpose it serves or the benefits a Line of Credit could provide to your business? Jennifer is here to shed some light on all those questions—and more!
“The purpose of a Business Line of Credit is to provide flexible, short-term funding that helps manage cash flow. It’s commonly used for covering operational expenses like material, inventory, or vendor payments during slow revenue periods or while waiting on receivables,” said Jennifer. “It gives your business access to funds when needed— without borrowing a large sum all at once—helping you stay financially stable and prepared.”
“One of the benefits of a Business Line of Credit is that it’s a practical tool for managing the day-to-day financial needs of your business. Other key benefits include:
If you’re considering applying for a Business Line of Credit, Jennifer offers this advice, “It’s best to apply for a line of credit before your business needs the funds. Lenders look for strong cash flow, a solid personal credit history, and positive net income.”
You can apply by speaking with a Business Services Specialist or going online to get started.
General Loan Documentation Requirements
If you’re looking for other loan options, remember to be prepared with the proper documentation. “Smaller loan applications typically require basic financial documentation,” Jennifer said. “Be prepared to provide some or all of the following:
Credit and Deposit History
“Most financial institutions will review your personal credit report as part of the business loan process—especially for small businesses or newer companies,” explained Jennifer. “Maintaining a healthy credit score is important not only to qualify but also to secure the most favorable rates and terms. Strong personal credit can make a big difference in your business’s financing options.
“It’s also important to have a deposit relationship with your financial institution. If your business accounts are held elsewhere, consider moving your operating account to the lender. As a not-for-profit credit union, KCU is able to offer competitive rates, lower fees, and personalized financial support to better serve your business needs.
“Bringing your deposit relationship to KCU helps us understand your business more deeply and positions you for greater access to credit, services, and partnership opportunities down the road. We succeed when our members succeed.”
At Kitsap Credit Union, we’re more than just a lender—we’re a partner in your business journey. Whether you need flexible access to funds, help financing equipment or vehicles, or guidance on SBA loans, our Business Services team is here to support your goals with personalized solutions. Let’s build something great together—because when your business thrives, our community thrives.
* The information provided in this blog does not constitute tax advice. For advice regarding your specific tax situation, please consult a qualified tax professional.
Insured by the NCUA
“We offer a wide range of business lending solutions designed to support your goals, from managing daily expenses to funding major growth,” Jennifer shared. “Each option is designed to help your business grow with confidence and financial stability.”
Some of these options include:
- Business Credit Cards – Flexible spending for everyday business needs
- Business Lines of Credit – Access to working capital when you have short term cash flow needs
- Business Vehicle Loans – Financing for new or used passenger cars, trucks, and vans, as well as commercial vehicles like cargo vans, dump trucks, tow trucks, semi-trucks, and fleet vehicles.
- Business Equipment Loans – Funding to purchase or upgrade essential equipment
- SBA 504 & 7(a) Loans – Small Business Administration loans for real estate, equipment, business growth, working capital, and more
- Commercial Real Estate Loans – Financing for buying, refinancing, or renovating property
- Commercial Construction Loans – Structured funding for new builds or major renovations
- At KCU, we support nonprofit organizations by offering business loan solutions tailored to their unique needs.
Business Vehicle Loans
“Let’s start by talking about Business Vehicle Loans,” Jennifer said. “These loans help finance the purchase of cars, vans, trucks, or other commercial vehicles essential to your operations. They offer structured payments and competitive fixed rates—ideal for preserving working capital.
“It might be a good fit if:
- You need to purchase or upgrade one or more business vehicles
- You value consistent monthly payments instead of large upfront expenses
- You want to take advantage of potential tax benefits like depreciation and interest deductions.
“The vehicle typically serves as collateral, and loan terms can often be tailored to fit your needs.”
We asked Jennifer what the benefits of a Business Vehicle Loan are, and she shared, “Financing a vehicle through a business can help keep personal and business finances separate, which may support better credit management and financial organization. While the impact on credit can vary depending on how the business is set up, separating business expenses from personal ones can lead to clearer accounting and possible tax benefits.* Business vehicle financing can also provide predictable payments, help manage cash flow, and may offer certain deductions.”
When asked if there are any common mistakes businessowners make with vehicle loans, Jennifer said, “Yes— one common pitfall is obtaining a business-use vehicle under a personal name, which can lead to complications with registration and may reduce access to potential tax benefits.* It might also result in added steps or expenses later on. To help avoid these issues and ensure everything is set up properly, it's a good idea to consult with a business financing expert before making a purchase. They can help make sure the financing is aligned with your business needs from the beginning.”
Looking to apply for a Business Vehicle Loan? You can apply online anytime. We offer pre-approvals, which help you confirm your credit and income eligibility before you shop. Pre-approvals are good for 45 days, giving you time to find the right vehicle with confidence and a clear budget in hand.
Business Line of Credit
Have you considered a Business Line of Credit? Wondered what purpose it serves or the benefits a Line of Credit could provide to your business? Jennifer is here to shed some light on all those questions—and more!
“The purpose of a Business Line of Credit is to provide flexible, short-term funding that helps manage cash flow. It’s commonly used for covering operational expenses like material, inventory, or vendor payments during slow revenue periods or while waiting on receivables,” said Jennifer. “It gives your business access to funds when needed— without borrowing a large sum all at once—helping you stay financially stable and prepared.”
“One of the benefits of a Business Line of Credit is that it’s a practical tool for managing the day-to-day financial needs of your business. Other key benefits include:
- Access to funds when you need them – draw only what you need, when you need it
- Cost-efficient borrowing – pay interest only on the amount you use
- Reusable credit – as you repay, the funds become available again
- Supports short-term needs – ideal for covering material, inventory, or vendor payments
- Preserves working capital – helps keep your cash reserves intact for other priorities.”
If you’re considering applying for a Business Line of Credit, Jennifer offers this advice, “It’s best to apply for a line of credit before your business needs the funds. Lenders look for strong cash flow, a solid personal credit history, and positive net income.”
You can apply by speaking with a Business Services Specialist or going online to get started.
General Loan Documentation Requirements
If you’re looking for other loan options, remember to be prepared with the proper documentation. “Smaller loan applications typically require basic financial documentation,” Jennifer said. “Be prepared to provide some or all of the following:
- Personal and business tax returns
- A current profit and loss statement
- A balance sheet.
Credit and Deposit History
“Most financial institutions will review your personal credit report as part of the business loan process—especially for small businesses or newer companies,” explained Jennifer. “Maintaining a healthy credit score is important not only to qualify but also to secure the most favorable rates and terms. Strong personal credit can make a big difference in your business’s financing options.
“It’s also important to have a deposit relationship with your financial institution. If your business accounts are held elsewhere, consider moving your operating account to the lender. As a not-for-profit credit union, KCU is able to offer competitive rates, lower fees, and personalized financial support to better serve your business needs.
“Bringing your deposit relationship to KCU helps us understand your business more deeply and positions you for greater access to credit, services, and partnership opportunities down the road. We succeed when our members succeed.”
At Kitsap Credit Union, we’re more than just a lender—we’re a partner in your business journey. Whether you need flexible access to funds, help financing equipment or vehicles, or guidance on SBA loans, our Business Services team is here to support your goals with personalized solutions. Let’s build something great together—because when your business thrives, our community thrives.
* The information provided in this blog does not constitute tax advice. For advice regarding your specific tax situation, please consult a qualified tax professional.
Insured by the NCUA
July 9, 2025