Secured
Banks
Line of Credit
Eligibility
Annual Revenue:
- Must be operating with a profit. Revenue amounts will determine eligible line of credit amount
- Usually 2 years in business (accessible for 6+ months in business usually relying on personal credit)
Typical Range
Up to 100% of the secured asset
Maximum of $1,500,000
Maximum of $1,500,000
Features
Payment Schedule:
- Up to 7 year terms with 25 year amortization. Annual 10% prepayment privilege at no charge
- Usually within 72 hours post approval. Dependent on structure
- Apply in branch with a specialist. 24/7 phone support or usual in-branch working hours