Compare Lending Options
|Question||Traditional Line of Credit (LOC)||Business Equity Line of Credit (BELOC)||Equipment Line of Credit (ELOC)|
|What are you looking for:||A line of credit that is always there when you need it, providing vital capital for day-to-day expenses.||Short term working capital using the equity in your personal residence.||Pre-approved for future equipment purchases.|
|Attached Primary Checking Account||NA||NA||NA|
|Advances||Advances are processed through our commercial lending division||Advances are processed through our commercial lending division||Requests are drawn against the line and specific terms and rates are applied to each loan|
|Credit Line||Approved for a set dollar amount||Approved for a set dollar amount||Approved for a set dollar amount|
|Secured||Blanket UCC filing on all business assets. May be secured by additional collateral.||Indemnity Deed of Trust (IDOT) on the personal residence||Blanket UCC Filing on all business assets. May be secured by a specific piece of equipment|
|Interest||Interest Billed Monthly||Interest Billed Monthly||Principal and interest payment billed monthly|
|Payments||Interest only. Principal curtailments||Interest only. Principal curtailments||Principal & Interest monthly|
|Rate||Relationship based pricing||Relationship based pricing||Rate determined at time of advance|
|Fee||Fees based on Relationship||Fees based on Relationship||Fees based on Relationship|
|Term||Renews annually||Renews annually||Based on equipment purchased|
|Legalese||Approval may be subject to a 30-day clean-up period. Subject to financial covenants. Personal guaranty required||Standard appraisal and title requirements apply|
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