Line of Credit Comparison

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Choice Credit℠ for Business
Line of Credit

What You Need to Apply »

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Business Equity
Line of Credit

 What You Need to Apply »

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Secured
Line of Credit

 What You Need to Apply »

Loan Type Benefits

Offers a simple application process with a quicker credit decision

Uses real estate equity to secure longer repayment term and lower rates than unsecured revolving loan options

Uses the value of receivables, inventory or equipment to obtain larger short-term working capital financing

Typical Uses

Short-term working capital, cash flow timing gaps, general business needs

Short-term working capital, equipment, expansion, building improvements

Larger short-term capital needs, seasonal inventory, growing receivables

Account Features & Fees
Minimum Line Amount+1

$20,000

$10,000

$100,001

Maximum Line Amount+1

$100,000

$999,999

$3,000,000

Collateral Requirement

None

Residential or owner-occupied commercial real estate

Non-Real Estate business assets

Term

Annual review and renewal

7 year draw period
followed by 10 year repayment

Annual review and renewal

Interest Rates

Variable, based on the Prime Rate[2]

Variable, based on the Prime Rate[2]

Variable, based on the Prime Rate[2]

Annual Fee

$175

0.25% of committed line amount

0.25% of committed line amount

Required automatic monthly payment from PNC business checking account
Payments

Monthly interest plus principal payments. Payment amount is 1.5% of the balance (minimum $100).

Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.

Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.

Funds accessible by check, online transfer or telephone

yes

yes

yes

View balances, transactions and make payments online

yes

yes

yes

Provides optional Overdraft Protection to PNC business checking account

Choice Credit for Business Line of Credit

What You Need to Apply »

Loan Type Benefits

Offers a simple application process with a quicker credit decision

Typical Uses

Short-term working capital, cash flow timing gaps, general business needs

Account Features & Fees
Minimum Line Amount+1

$20,000

Maximum Line Amount+1

$100,000

Collateral Requirement

None

Term

Annual review and renewal

Interest Rates

Variable, based on the Prime Rate[2]

Annual Fee

$175

Required automatic monthly payment from PNC business checking account
Payments

Monthly interest plus principal payments. Payment amount is 1.5% of the balance (minimum $100).

Funds accessible by check, online transfer or telephone

yes

View balances, transactions and make payments online

yes

Provides optional Overdraft Protection to PNC business checking account

Business Equity Line of Credit

 What You Need to Apply »

Loan Type Benefits

Uses real estate equity to secure longer repayment term and lower rates than unsecured revolving loan options

Typical Uses

Short-term working capital, equipment, expansion, building improvements

Account Features & Fees
Minimum Line Amount+1

$10,000

Maximum Line Amount+1

$999,999

Collateral Requirement

Residential or owner-occupied commercial real estate

Term

7 year draw period
followed by 10 year repayment

Interest Rates

Variable, based on the Prime Rate[2]

Annual Fee

0.25% of committed line amount

Required automatic monthly payment from PNC business checking account
Payments

Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.

Funds accessible by check, online transfer or telephone

yes

View balances, transactions and make payments online

yes

Provides optional Overdraft Protection to PNC business checking account

Secured Line of Credit

 What You Need to Apply »

Loan Type Benefits

Uses the value of receivables, inventory or equipment to obtain larger short-term working capital financing

Typical Uses

Larger short-term capital needs, seasonal inventory, growing receivables

Account Features & Fees
Minimum Line Amount+1

$100,001

Maximum Line Amount+1

$3,000,000

Collateral Requirement

Non-Real Estate business assets

Term

Annual review and renewal

Interest Rates

Variable, based on the Prime Rate[2]

Annual Fee

0.25% of committed line amount

Required automatic monthly payment from PNC business checking account
Payments

Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.

Funds accessible by check, online transfer or telephone

yes

View balances, transactions and make payments online

yes

Provides optional Overdraft Protection to PNC business checking account

Important Legal Disclosures and Information

  1. All loans and lines of credit subject to credit approval and require automatic payment deduction from a PNC Bank business checking account. Origination and annual fees may apply.

  2. Prime Rate means the highest prime rate published in the "Money Rates" section of the Wall Street Journal for the last day of the preceding calendar month.