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Business Lines Of Credit

Instant access to needed working capital

Business Lines of Credit provide increased spending capacity for inventory, repairs, and unexpected expenses, offering flexible borrowing similar to a credit card with competitive rates and options for securing against accounts receivable.

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Business Lines Of Credit

A Business Line of Credit enhances your ability to manage inventory, cover repairs, and handle unexpected expenses while maintaining cash flow. Similar to a credit card, it allows you to borrow, repay, and borrow again, offering higher limits and lower rates than typical credit cards. You can choose from secured or unsecured options, and secure it against accounts receivable for better rates and terms, making it particularly beneficial for businesses facing seasonal cash flow variations.

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Business Line of Credit Benefits

Business Line of Credit Benefits

  • Increase your spending capacity for inventory, repairs, unexpected expenses, manage cash flows, etc.
  • Similar to a credit card, this provides the flexibility to borrow, repay, and borrow again on the same loan
  • Offers higher borrowing limits & lower rates than most credit cards
  • Competitive loan rates & variety of terms that make sense for you
  • Both secured & unsecured business lines of credit are available
  • Can be secured to your accounts receivable to enable better rate & term options
  • Especially useful for replenishing inventory for businesses with seasonal cash flow fluctuations
  • Use for working capital to pay operational costs, such as rent, payroll, & debt payments
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Business Loan Rates

Rates up to date as of July 4, 2024. Rates subject to change without notice.

All Business LoansTermAnnual Percentage Rate (APR)
Commercial Real EstateCall 801-359-9600 to learn moreCall 801-359-9600 for today's rates
Lines of CreditCall 801-359-9600 to learn moreCall 801-359-9600 for today's rates
EquipmentCall 801-359-9600 to learn moreCall 801-359-9600 for today's rates
VehiclesCall 801-359-9600 to learn moreCall 801-359-9600 for today's rates
Small Business (SBA)Call 801-359-9600 to learn moreCall 801-359-9600 for today's rates

Rates and financing are offered based on applicant’s credit worthiness and the term of the loan. Rates quoted are annual percentage rates (APR).

Frequently Asked Questions

How does a business line of credit work?

Think of it like a revolving credit card for your business. You get approved for a credit limit, withdraw funds as needed, and only pay interest on the amount you use. You’ll typically make minimum monthly payments until the balance is paid off.

What can I use it for?

Business lines of credit are ideal for short-term needs. Common uses include covering unexpected expenses, managing seasonal fluctuations, purchasing inventory, or taking advantage of business opportunities.

How do I qualify?

Lenders typically consider factors like your credit score, business credit history, financial statements, and the overall health of your business.

How much can I borrow and do I need collateral?

Credit limits vary depending on your business’s financial health. Secured lines with collateral (like property) offer higher limits and lower rates. Unsecured lines have lower limits and higher rates but don’t require collateral.

What are the associated costs?

The main cost is interest on the borrowed amount. There might also be origination fees for setting up the line, annual maintenance fees, and transaction fees for using the funds.

Is a business line of credit better than a term loan?

A business line of credit offers more flexibility for short-term needs. Term loans provide a lump sum for specific purposes and require fixed repayments over a set term. Consider your financing needs to choose the best option.

How are secured & unsecured lines of credit different?

The key difference between secured and unsecured business lines of credit is collateral. Secured lines require you to put up an asset, like property, as security. This lowers the risk for the lender and typically gets you better terms like lower interest rates and higher credit limits. Unsecured lines don’t require collateral but come with higher interest rates and smaller limits.

Business Cash Back Credit Card

The American United Platinum VISA® Cash Back Credit Card offers 1% cash back on all purchases, with no annual fee and competitive low fixed rates. It features no balance transfer fees, unlimited transactions, access to over 30,000 ATMs, and EMV contactless technology for secure tap-and-go payments. Additional benefits include an end-of-year member reward dividend and VISA® Zero Liability Protection for unauthorized charges.

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