As a Small Business owner, your expenses can add up, and a line of credit can help manage your cash flow. But wouldn’t it be great to also get the predictability of a fixed payment and the convenience of a fixed interest rate? That’s where BusinessLock comes in.Schedule An Appointment
TAKE YOUR LINE OF CREDIT FURTHERThe BusinessLock feature allows you to convert a portion of your line of credit balance into a term loan*, giving you the peace of mind of a fixed rate, with the stability of consistent monthly payments. So, if you know exactly how much you would like to borrow, you can lock down a fixed rate, while still getting the flexibility of a line of credit.
THE BEST OF BOTH WORLDS
With BusinessLock you’ll have the flexibility of an ongoing working line of credit, plus the convenience of using the same line for fixed-rate term loans when the need arises. Need to refresh your computer hardware and software over an extended period of time? Your line of credit will allow you to purchase your equipment when you need it, and BusinessLock will give you the added stability of a fixed rate with fixed term loan payments.
LOCK IN 1, 2 OR 3 TERM LOANS AT ANY TIME
Marketing, advertising, payroll—they can add up when you’re expanding your business! BusinessLock gives you the flexibility to have up to three fixed rate term loans outstanding at any time. Locks can be requested any time, (as long as your account is open and in good standing), and there is no fee to process a fixed rate term loan as part of your line. Best of all, as your outstanding balance is paid down, those dollars become available for future borrowing.
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