Business Lines of Credit
A Stillman Bank Business Line of Credit is a type of flexible business loan that you can draw on as needed to cover the financial needs of your business. It’s like a business credit card, but with lower interest rates.
- ✔ A pool of funds you can quickly access at any time.
- ✔ Businesses that are cyclical in nature or may have periods of uneven cash flow can use it to cover a shortfall.
- ✔ Growing businesses that could have a sudden need for equipment or inventories could have a line of credit standing by as a quick source of funds, without the long approval process of a standard business loan.
Business Lines of Credit Details
A line of credit is an unsecured business loan, so you don’t have to provide collateral. You also don’t have to specify a particular need.
- ✔ Withdraw funds as needed, up to your limit, to cover financial need.
- ✔ Only pay interest on what you borrow; from the date you borrow it.
- ✔ After you pay back the balance, you can borrow again.
Why Choose Stillman Bank
Access all your accounts, transfer funds, and make payments through online access and mobile banking. Access to 40,000 ATMs surcharge-free through the MoneyPass® ATM network.
Enhanced Mobile Alerts provide instant access to account information including account balances, debit card transaction notifications, and more. (Text messaging fees from your cellular provider may apply).
Related Articles
Common Questions
+ What Information Do I Need to Apply for a Business Line of Credit?
We are going to need your personal financial statements and 3 years of personal and corporate tax returns.
+ How Quickly Can I Access Funds from My Business Line of Credit?
Once your line of credit is set up, you can draw on your funds at any time. It typically takes from one to three business days for us to transfer funds into your account.
+ How Is a Business Line of Credit Different from a Business Term Loan?
A business term loan gives your business a one-time lump sum amount. Such loans are typically issued with a specific use in mind, such as buying equipment or business property, with the items being purchased used as collateral.
A business line of credit is an unsecured loan, which doesn’t require collateral. After your application is approved and your credit line is set up, you can access it at any time and use the funds for a variety of business needs.
Open a Business Line of Credit or Speak with a Banker Today
If you’re looking for a business line of credit in northern Illinois and southern Wisconsin, or if you have any questions, you can contact us online, reach out to your nearest branch, or reach out to someone on our commercial lending team.