| |
Credit Cards |
Lines of Credit |
Term Loans |
Real Estate Loans |
| Best for |
Payment tool-of-choice for business supplies, maintenance, repairs and travel, etc. |
Short term or seasonal cash needs, manage cash flow, purchase inventory |
Finance capital improvements or to purchase larger fixed assets |
Expanding, improving, purchasing, building or refinancing a commercial property |
| Rate |
Variable based on Prime ¹ |
Variable based on Prime ¹ |
Variable: based on Prime ¹
Fixed: based on term, credit history, collateral pledged and prevailing market conditions
|
Variable: based on Prime ¹
Fixed: based on term, credit history, collateral pledged and prevailing market conditions
|
| Terms |
Revolving |
Revolving annual renewal |
Up to 5 years² with longer amortizations |
Up to 5 years² with amortizations up to 20 years |
| Credit Amount |
Up to $250,000 |
Starting at $25,000 |
Starting at $10,000 |
Up to 80% loan to value |
| Collateral |
Unsecured |
Secured and Unsecured |
Secured by financed pledged asset |
Secured by financed real estate |
All lines of credit subject to credit approval, verification, and collateral evaluation.
¹ Lines of credit are priced on the Prime Rate (Prime) which is published on the last business day of the month in the Wall Street Journal, Prime is a variable rate with the maximum annual percentage rate (APR) of 18% and is subject to change without notice.
² General practice, under certain circumstances. Given market conditions and customer credit worthiness, different terms may result.