Lines of Credit – Business

A revolving line of credit may be the best financing option for those short term cash flow needs. A line of credit gives an open-ended access to a predetermined amount of credit.

Lines of credit, both secured and unsecured, are available for business needs such as:

• Bridging the gap between accounts receivable and accounts payable
• Funding payroll
• Seasonal inventory purchase
• Working capital
• Purchasing supplies
• Business emergency

What do I need to get started?

• Must meet all membership requirements
• Business must be under current ownership for at least 24 consecutive months
• Key owners, any individual with at least 20% ownership in the business, need to provide personal guaranty
• All appropriate business legal structure documents
• Minimum of two years business and personal federal tax returns (complete with all schedules and attachments)
• Interim income statement and balance sheet if more than 90 days past fiscal year end