Secured lines of credit are a great option if you need short-term working capital to cover business needs such as gaps in accounts receivable collections or inventory purchases. Non-real estate business assets are provided by the borrower as collateral for the Secured Line of Credit.
Line of Credit amount
|$100,001 to $3 million|
|Easy access to funds||Write a check drawn against the account, or transfer funds into an eligible PNC deposit account using online banking or by telephone|
|Interest Rates||Variable, based on the Prime Rate|
|Renewal requirement||Subject to annual review and renewal|
|Payments||Monthly interest-only payments automatically deducted from your PNC business checking account during revolving credit period. Principal payments can also be made by the borrower at any time|
|Value added extras||Provides optional overdraft protection for your PNC business checking account|
|Collateral required||Non-Real Estate business assets|
We’ll help make your business lending experience easy. Your PNC Business Banker will walk you through the lending process and help you gather all necessary information to apply. Enjoy the convenience of applying at any PNC Bank branch, or over the phone.
After you apply, you can expect:
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each customer that opens an account. What this means for you: when you open an account, we will ask you your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying information.
Review our Business Lending Guidelines to help you better assess your creditworthiness when applying for new or additional revolving or fixed-term financing. These guidelines are not the only criteria for a final credit decision, but they will empower you to better understand your financial position in the context of PNC’s business lending practices. Read Guidelines »
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.
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.
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Bank deposit products and services provided by PNC Bank, National Association (N.A.). Member FDIC