Business Lines of Credit
Fast and flexible financing to cover expenses or pursue opportunities
Big potential. Flexible access. Built for small businesses.
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Flexible Funds When You Need Them
A revolving access to capital ensures cash is always available to keep your business moving forward.
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No Hidden Fees, No Surprises
You’ll know exactly what to expect, so you can focus on running your business without worrying about surprise costs.
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Credit That Grows With Your Business
We listen to your goals and offer credit limits that scale with your business, so your financing keeps pace with your growth.
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Easy Access, Full Control
Manage your line of credit anywhere, anytime with convenient digital banking and account management tools.
Small Business Line of Credit
Running a business involves managing everyday expenses and unexpected challenges. A small business line of credit is a flexible way to obtain funds quickly, so you’re always prepared.
Benefits include:
- Flexible access to funds up to your approved limit
- Pay interest only on the amount you use
- Competitive rates
- No penalties for early repayment
- Local support and decision making
- No annual fees
- Flexible credit limits
Whether you’re managing cash flow, stocking up on inventory, or pursuing new opportunities, a business line of credit gives you fast access to funds when you need them. Click the button below to get started!
Get Started
Jorge G., Lowell, MAVery well-trained tellers and always polite. I have been going to this bank for years and have never left unsatisfied.
Ready to get started?
To apply for loans, open accounts or to schedule a meeting to discuss your business, contact:
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Kara Doyle
VP – Commercial LendingOffice: (978) 323-3242
Mobile: (978) 479-7150
Email: [email protected] -
Robert Boley
VP – Business Services AdvisorOffice: (978) 703-7982
Mobile: (978) 421-4644
Email: [email protected] -
Lisa Carroll
Business Development OfficerOffice: (978) 703-7932
Mobile: (978) 703-7932
Email: [email protected]
FAQs about Small Business Lines of Credit
A business line of credit is a flexible financing option that gives your company access to funds for working capital, seasonal expenses, unexpected costs, and other needs. Unlike a traditional loan, it’s revolving, which means you can borrow, repay, and borrow again as needed, up to your limit.
A business line of credit can be used for many different purposes. It gives you the flexibility to cover expenses as they arise. Many businesses use it to manage seasonal cash flow, purchase inventory or supplies, handle payroll, or cover unexpected costs. It can also be used to pursue new opportunities.
How do I access funds once my line of credit is approved?
Yes, with a business line of credit, you only pay interest on the funds you actually use, not on your full approved limit. For example, if your approved limit is $50,000 but you only draw $10,000, you’ll only accrue interest on the $10,000 balance.
The approval process usually takes 7-14 days for lines under $100,000, and up to 30 days for larger lines. The timeline can vary depending on the appraisal and title review (if required), as well as the underwriting and document preparation.
Yes, you can make early payments on your business line of credit at any time without penalties or fees. Each payment you make replenishes your available credit, so you can borrow again whenever your business needs extra funds.
You can draw funds from your line of credit as often as needed, up to your available credit limit. For example, if you use your line of credit to purchase inventory ahead of a busy season and then pay down the balance, those funds become available again to cover other expenses.
The interest rate for your line of credit is based on your credit history, loan amount, and business financials. To obtain current rates, contact a Jeanne D’Arc commercial lending officer.