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Can a credit union establish a line of credit or term loan with Southwest Corporate if it has a loan or line of credit at another financial institution?

April 26, 2017corporate Credit Union financial institution line of credit loan Southwest term

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Can a credit union establish a line of credit or term loan with Southwest Corporate if it has a loan or line of credit at another financial institution?

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Yes; different collateral may need to be pledged to each financial institution so that there is no overlap, and in some cases, a subordination agreement must be obtained.