Business Line of Credit
A business line of credit gives your business access to cash, whenever you need it,
up to a pre-specified amount. The main advantage of a line of credit is flexibility.
Funds will always be available to you, when you need them, but you pay no interest
until you draw on the line. This makes a line of credit an excellent resource to have
at your disposal in case of an emergency. Your line can be secured or unsecured, with
multiple repayment options, and a variable interest rate.
A business line of credit is great for a variety of ongoing or short-term financing needs.
Use the funds to improve your cash flow, purchase inventory, materials and equipment.
Revolving credit lines are also very useful to use as overdraft protection on a business
Current Prime Rate = 5.50%
- Maximum loan: $250,000
- Variable Interest Rate: Prime Rate + Margin, adjusted quarterly
- $500 packaging fee on term loans and line of credit loans $100,001 and above
Loans are subject to credit approval.
Business owners must be members or eligible for membership at TFCU
and must provide personal guarantees for loan request.
Rates subject to change.