| Business Services - Lines of Credit |
Ideal for businesses in need of working capital. Businesses can borrow, repay and borrow again up to the maximum credit balance, until the expiration date of the line.
- Variable interest rate tied to prime
- Use as needed
- Can borrow as often as you wish, up to a pre-established limit
- Principal can be paid back at any time
- Interest is billed monthly based on usage
- Can be unsecured or secured by short-term assets
- Payable on demand, but renewed annually
- No usage or annual fees
- May contain 30-day clean-up provision or revolve up and down seasonally
- Easy access
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