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Getting the right finance for your business can be tricky. With trade fluctuations, maintaining a healthy cash flow can be difficult. And you don't want to end up borrowing too much or too little.
That's where a business line of credit could help. A business line of credit allows you access to a credit limit from which you can draw down, but you only pay for what you borrow.
With a Heritage Bank Business Line of Credit, you could get access to a credit limit as high as $500,000 at a competitive rate, and with low fees. Find out more about a Heritage Bank Business Line of Credit below.
The application fee amount is available upon request
Upfront Fee
$500,000
Max. Loan Amount
Up to 25 years
Loan Term
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Product Name | Heritage Bank Business Line of Credit |
---|---|
Min. Loan Amount | $50,000 |
Max. Loan Amount | $500,000 |
Loan Security | Secured |
Upfront Fee | The application fee amount is available upon request |
Loan Term | Up to 25 years |
Like most business lines of credit, Heritage Bank's business line of credit gives you access to funding that you can draw down from. You can use a line of credit much like you would a business bank account – or more accurately – an overdraft. However, unlike an overdraft, a business line of credit has a much higher credit limit.
With a Heritage Bank business line of credit, you can apply to extend your credit limit at any time. You can also request to have the credit limit reduced. Ways in which you can draw down from your line of credit include using a card attached to your account, BPAY, drawing personal cheques from your account and more.
You will need to make monthly repayments towards your outstanding balance. Please note that the interest rate you'll pay and your loan term will be partly determined by the type of security that you provide.
The following are some of the features that come with this loan product:
The cost of a Heritage Bank business line of credit will depend largely on how much you draw from your credit limit. It will also depend on factors like your loan term, security type, business data and personal circumstances.
That being said, in regard to fees and charges, here's an idea of the general costs you can expect from this loan:
For more information on these fees, please contact the lender directly.
If you're considering applying for a Heritage Bank business line of credit, you can simply click "Go to site" to submit an inquiry. Information that you will require to submit an inquiry includes the following:
This line of credit product is only available to businesses. This means that you will have to have an active ABN or ACN to qualify for this line of credit and be an owner, partner or director of a company. It is also a secured line of credit, so you will have to be either an owner of a residential or non-residential property to be eligible for this loan. You will also have to meet the following criteria:
Remember that it is always a good idea to compare business lines of credit before applying to make the best possible decision for your circumstances.