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Every business needs cash flow. A commercial line of credit can help you bridge the gap between accounts receivable and accounts payable. It can also provide the capital you need to make ends meet for purchasing materials or equipment to help your business grow. A commercial line of credit can be secured by a variety of different assets. Contact your nearest Northern Lights Credit Union for more information on lending criteria and specific terms.
Commercial Line of Credit
FEATURES:
- A revolving loan that allows members to intermittently borrow up to a prearranged limit
- Provides protection against unnecessary NSF charges
- Available to members 18 years of age and older
- Interest calculated on a closing daily balance
- Funds are available by writing a cheque, making an in branch withdrawal, using the MemberCard at the ATM or a Point-of-Sale terminal
LINE OF CREDIT TYPES
- Overdraft protection
- Loan line of credit
- Meritline (secured by real estate)
- Student line of credit (post-secondary education loan)
