Business Line of Credit
Secured Line of Credit:
Opening a Secured Line of Credit provides a revolving credit line. You may borrow funds by securing this credit line against Commercial Real Estate, Accounts Receivable or Inventory.
How Secured Lines of Credit Work
Funds are based on advanced rate of collateral and you’re given a line of credit. The amount you have is based on the value of the collateral. You can use the funds from this line to make purchases for your business and pay the balance back over time. This is a revolving line, so when you make a payment, more of your limit is available for use.
|Loan Type||Advance Rate||Term||Maximum|
|Secured Line of Credit||Up to 80%*||1 year||$6,000,000|
*The rate of advance varies by product