Why Work with First Independent Bank?
- You can use this business line of credit to fund seasonal changes in inventory and receivables, take advantage of vendor discounts, or meet unexpected cash needs.
- We can customize a solution that fits your business.
- Our bankers know the market, and are empowered to make timely decisions locally.
- For small loan amounts, we’re usually able to give you a decision within a few days of receiving your completed application.
What You Need to Know
- A Revolving Line of Credit is typically repaid from your business' operating cash flow, such as collecting receivables and inventory turnover.
- Collateral requirements can include business assets, such as accounts receivable, inventory or equipment.
- Loan terms are usually for one year, but longer terms of 2 years are available in some cases for small loans.
- Repayment terms generally are interest-only monthly, with principal amounts due at maturity.