Business Lines of Credit
Leader Bank offers lines of credit for your business to provide cash flow for short-term needs and to finance inventory and accounts receivable.
Perfect For
Business Lines of Credit
Working capital Lines of Credit are available for your business to provide cash flow for short-term needs and to finance inventory and accounts receivable. These lines are offered on a secured basis at a floating rate and are tied to the Wall Street Journal Prime Rate.
Set Your Business Up For Success!
With a line of credit you’ll have access to the funds your business needs to grow!
You’ll have access to funds for short-term working capital as well as inventory purchase.
Start Growing Your Business Today!
Business Line of Credit Features
- Business purpose:
Short-term working capital and purchase of inventory - Loan amount:
$25,000 to $1,000,000 - Terms/Maturity:
Demand – annual review - Interest rate:
Variable based on the Prime Rate as published in the Wall Street Journal plus a margin. Fixed rate available as determined at time of approval - Access to funding:
Advances made directly to your Leader Bank checking account - Monthly payment:
Interest only, principal paid at borrower’s discretion, annual 30-day clean up required - Collateral:
A first lien on all business assets and/or liquid collateral such as CDs or securities - Guaranties:
Required from each borrower/owner - Costs:
Closing costs vary by complexity of transaction, annual facility fee 1% - Features/benefits:
Automatic payment feature
For more information please call 781-646-3900 or email: commerciallending@leaderbank.com
“We are grateful for Leader Bank’s attention to detail and tireless efforts in taking the time to understand the needs of our family’s business.”
