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Business Line of Credit and Loans for Working Capital

Business line of credit

Get cash whenever you need to bridge the gap between payables and receivables
  • Credit lines starting at $10,000
  • Revolving credit line with monthly payments based on your balance
  • Fast, easy access to funds via phone or transfer using Online Banking

Do you need a business line of credit?

If you’re a business owner in need of open-ended access to credit for ongoing needs such as seasonal working capital or inventory management, a business line of credit might be the solution for managing your cash flow.

Our flexible revolving credit lines start at $10,000. There is no specific maximum to a Magnate Premier Investment Bank line of credit, with the exception of lines secured by real estate: $5 million is generally the maximum amount for a line of credit secured by owner-occupied commercial real estate.

  • ♦ Flexible revolving credit lines starting at $10,000
  • ♦ Competitive variable rate based on the prime rate (we also consider your overall business relationship with Magnate Premier Investment Bank)
  • ♦ Fast, easy access to funds whenever you need them—online, over the phone or in a financial center
  • ♦ Pay no interest until you draw funds
  • ♦ Pay in full or over time

Your line of credit may be...

  • ♦ Secured with a blanket lien on your assets
  • ♦ Secured with a certificate of deposit (borrow up to 100% of the value)

1. Magnate Premier Investment Bank will determine your eligibility for credit line renewal on an annual basis.

Some applications may require further consideration and additional information may be requested. Credit is subject to approval. Normal credit standards apply.

Terms & Fees

Term Rate Upfront fees Renewal fee
Revolving with annual renewal1 Competitive rate based on the prime rate and that considers your overall business relationship with Magnate Premier Investment Bank $150 for amounts up to and including $100,000 $150 for amounts up to and including $100,000
$250 for amounts above $100,000 and up to and including $250,000 $250 for amounts above $100,000 and up to and including $250,000
0.5% of the line amount for amounts above $250,000 0.5% of the line amount for amounts above $250,000

1. Magnate Premier Investment Bank will determine your eligibility for credit line renewal on an annual basis.

Some applications may require further consideration and additional information may be requested. Credit is subject to approval. Normal credit standards apply.

  • ♦ Visit your local branch
  • ♦ Call us or email us. Find a business specialist

Secured business loans

Get a one-time lump sum for purchases or longer-term financing needs
  • Loans starting from $25,000
  • Fixed monthly payments
  • Flexible terms—including loan-to-value ratio layer—vary by collateral type

Is a secured business loan right for you?

If you're a business owner looking to purchase inventory and materials, refinance debt or finance account receivables, a Magnate Premier Investment Bank business loan may be right for you.

  • ♦ Available for amounts of $25,000 and up
  • ♦ Competitive rate that considers your overall business relationship with Magnate Premier Investment Bank
  • ♦ Receive your funds as a one-time lump sum
  • ♦ Convenient monthly repayment terms, including auto-debit payment from a Magnate Premier Investment Bank business checking account

Secure your loan with ...

  • ♦ A blanket lien on your assets
  • ♦ A certificate of deposit and borrow up to 100%

Terms & Fees

Term Rate Fee
up to 5 years when secured by certificates of deposit Competitive rate that considers your overall business relationship with Magnate Premier Investment Bank 0.5% of the amount financed
up to 3 years when secured by general business assets

Closing costs such as flood certificate, title fees, appraisal fees and filing fees apply. You'll be provided a list of fees at closing. Fees per loan willl vary.

Some applications may require further consideration and additional information may be requested. Credit is subject to approval. Normal credit standards apply.

  • ♦ Visit your local branch
  • ♦ Call us or email us. Find a business specialist

For more information, chat online with us or email us today.

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