A business line of credit is available for all your business needs.
Business Line of Credit
A business LOC allows you to pay business expenses without the hassle of a trip to the bank every time you make a purchase.
- With this product, you write checks for your purchases. Your monthly statements contain information on each transaction you made as well as your payment due for that month.
- Once your business checking account falls below $500.00, increments of $100.00 will be transferred from your line of credit to your checking account.
- You can make principal payments at any time to reduce the outstanding balance of the loan and save on interest expense, and (depending on the draw options) may have access to the full amount of the loan again.