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Business Line of Credit

A business line of credit is an ideal way for newer or smaller businesses to expand their business. Payments are made automatically from an EBSB business checking account. Business lines of credit feature:
 
  • Loan limits of $10,000 - $50,000 (based on FICO score)
  • Competitive rates
  • Quick turnaround
  • Can be used for a variety of purposes; machinery and equipment, company vehicle, working capital, inventory and receivables, etc.
Rates as of September 19, 2019
Credit Line $10,000 $25,000 $50,000
Minimum FICO Score 700 720 740
Time in Business No Minimum At least 12 months At least 2 years





 
Annual Fee $50 (non-refundable), charged at account opening and then on anniversary date
Interest Rate 7.99%
Payment Method Auto payment from your EBSB Business Checking account.
Monthly Payment 4.1666% of principal balance with a $20 minimum payment
Transfer Amount Only amount needed to cover overdraft