An Overdraft Line of Credit provides:
  • Maturity is on-demand
  • No amortization
  • Repayment terms include four percent of principal balance, $25 minimum, and interest
  • Funds are automatically applied to a Flagstar checking account in the event of an overdraft
  • Billing is monthly
  • Interest rate is floating
  • Fees include set up, annual and transfer fees
To be eligible your business should:
  • Meet established lending requirements and obtain credit approval
  • Be established for at least three years
  • Have satisfactory business and personal credit histories
  • Have no bankruptcies within the last 10 years
  • Be a profitable business with sufficient cash flow to meet both your new and current financial obligations
  • Have adequate business income to support the real estate loan with no reliance on investment income
To Open an Account:
  1. Download and complete a business loan application
  2. Collect the necessary paperwork as outlined in the application checklist
  3. Apply at your local Flagstar branch

*Subject to credit review.

Fair Lending Statement

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