A secured line of credit gives your business access to cash when you need it. The flexibility to quickly gain access to funds allows you to make the best decisions for your business without hampering your current operations. This stable source of financing means your business operations run continuously while receivables are collected, inventory is sold or you take advantage of an unpassable opportunity.
Features of a Secured Line of Credit
- Draw from your line when you need cash and only pay interest on what you use
- This line of credit has a revolving credit line, meaning you can borrow and repay continuously
- Maximum credit limit of $500,000
- Line limit is generally no more than 20% of annual revenue
- Lines of credit are given on one year terms with annual reviews and renewals
Apply in person at any of our convenient locations in the Saint Paul & the surrounding Twin Cities area.
Contact us for current rates.