What is a Secured Corporate Line of Credit?
Secured Corporate Lines of Credit are low interest credit lines that are LIBOR-based or based on Prime or Prime plus a small margin and are secured by receivables, inventory or other business assets. They can be obtained for amounts between $400,000 and $10 million. Full documentation is required, including two years business and personal taxes, a Personal Financial Statement and an Accounts Receivables Aging Report. This financial product can be used to remove existing business liens from residential properties and attach those liens to the business.
Related Questions
- 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?
- Can I get both a real estate secured line of credit, as well as a fixed rate long-term real-estate secured loan?
- What is a Secured Corporate Line of Credit?
