Our commercial lending experts partner with business owners at all stages of business, from start up to operation and expansion. We help them make the right financial decisions for both their present situation and their future vision. Northview Bank works with you to keep operations moving forward with business lines of credit.

A Business Line of Credit from Northview Bank

 Our commercial lending experts partner with business owners at all stages of business. We help them make the right financial decisions for both their present situation and their future vision. Northview Bank works with you to customize these products to your business needs.

A business line of credit is used to fund the short-term working capital needs of your business, whether for a specific project or to assist cash flow as the business waits to get paid for accounts receivable billed out. The line can be a either a drawdown line or a revolving line.

Drawdown Line of Credit

A drawdown line of credit is where the funds can be accessed as they are needed - by more than one draw - for a window of time. Drawdown lines of credit cannot be accessed again if funds are not repaid.

Revolving Line of Credit

A Revolving Line of Credit that allows funds to be drawn, then repaid, then accessed again for the entire term of the loan, much like a credit card.

Both types of lines of credit require collateral. Since the lines are intended for short-term needs, both lines of credit use short-term assets for collateral, such as Accounts Receivable. Loan to Collateral Values will vary between 65-75%, depending on the collateral used.