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| We offer both secured and unsecured operating lines of credit in amounts greater than $35,000. |
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The standard rate is a variable rate of prime plus 2%.
A 1% origination fee may be charged.
Appropriate collateral includes stocks, bonds, CD’s, real estate and depreciable assets for a line of credit.
The standard required documentation for approval:
- Business Credit Application
- Personal Financial Statement
- 2 years’ business tax returns
- 2 years’ financial statements
- Interim statements
- (2 years’ personal tax returns will be required for sole proprietors and real estate investors).
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business checking
commercial lending