Business line of credit offers fast, easy access to funds whenever you need them without securing your personal or business assets as collateral.
Who It's For
- Improving cash flow, funding payroll, or seasonal working capital
- Refinancing debt
- Purchasing inventory and materials
- Financing accounts receivables
- Emergency funds
Revolving Credit Line is designed for business owners who need credit for:
Revolving Credit Line features
- Available for amounts $10,000 and up.
- Variable rate based on prime.
- Fast, easy access to funds via check, online transfer, banking center transfer or telephone transfer
- Gives your business access to funds whenever you need them
- Pay no interest until you draw funds
- Interest is charged only on the portion of the line you use
- Flexibility to pay in full or over time
- Competitive, variable rate of interest
- Convenient monthly repayment terms, including minimum interest-only for most types of lines, payments and auto-debit payment from a business checking account
Requirements
- Personal credit score of 680 or higher
- Business established 2 or more years.
- Financial documentation required including: The past 2 most recent years business tax return, and 2 most recent years personal tax return.
- All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership represented