You’ve booked the sales, but your commissions have yet to arrive. Let RCU help with a commission advance loan. You can borrow against any commissions that are pending within 120 days, and have up to $5,000 deposited directly into your RCU checking account. (Amount varies by broker.)
Commission advance loans are made to realtors; we also offer auto loans, home equity loans, and other loans.
Commission Advance Loan Qualifications:
Commissions must be pending within 120 days.
Broker must be set up with the Commission Loan Program through RCU before you can apply for a commission advance loan.
The minimum loan amount is $1,000, and the maximum, which varies from broker to broker, is generally $5,000.
You must maintain an RCU savings account, complete a loan application, and sign a lending agreement the first time you apply.
Apply for a commission advance loan.*
To receive a commission loan you must also fill out a short form and have it signed by your firms accounting department. Print the form.
* You must be a Member of RCU to complete this application. Join RCU.