Business Lines of Credit

Your Financial Safety Net

Linked directly to your business checking account, this line of credit* will provide you with back-ups of cash when you need it and overdraft protection for your account.


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It Will Help You...

 

  • Save money with a low fixed rate.

  • Save time by sporting a fast application and approval process.

  • Have peace of mind knowing you have overdraft protection on your checking account and can readily access cash when you need it.

  • Secure a loan amount of anywhere from $500 to $50,000.

* You must have a Business Checking Account to open a Business Overdraft.

Lines of Credit Options

 

Overdraft Plus

  • Provides ready access to cash and overdraft protection.
  • Loan Amount: $500 - $2500.
  • Interest Rate 10.50%.
  • Due Date: Last day of the month.
  • Late Charge: $15.
  • Payment Type: Auto Pay.
  • Payment Amount:
    • $50 on balances up to $1500.
    • $100 on balances over $1500.
  • Prepayment Penalty: N/A.
  • Application Taken By: Branch.
  • Requirement(s): Business Checking Account.
  • Additional payments can be made in person, mail, online banking, mobile banking, or by calling the call center.

 

Overdraft Line

  • Provides ready access to cash and overdraft protection.
  • Loan Amount: $2500.01 - $50,000.00.
  • Interest Rate: 8.90%.
  • Due Date: Twenty-fifth of the month.
  • Late Charge: $15.
  • Payment Type: Auto Pay.
  • Payment Amount: 3% of balance or $20/whichever is greater.
  • Prepayment Penalty: N/A.
  • Application Taken By: Branch.
  • Requirement(s): Business Checking Account.
  • Additional payments can be made in person, mail, online banking, mobile banking, or by calling the call center.

 

Business Lines of Credit

  • Can be secured or unsecured.
  • Loan Amount: $2500.01 - $50,000.00.
  • Interest Rate: Variable and is determined at the time of loan approval and is based on cash flow, credit, and other factors.
  • Due Date: Fifteenth of each month.
  • Payment Type: Can have Auto Pay, but Auto Pay is NOT required.
  • Prepayment Penalty: N/A.
  • Application Taken By: Branch.
  • Requirement(s): Business Checking Account.
  • Additional payments can be made in person, mail, online banking, mobile banking, or by calling the call center.
  • Interest only payments.
  • Must pay down at least once a year.
  • Renews every one, two, three, four, or five years (determined at the time of loan approval).
  • Does NOT link directly to an account and can be accessed by withdraw at a branch or transferring via Online Banking.

Business Checking Account

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