Business Lines of Credit
Finance short-term working capital.
Think of this like a credit card that can help build your business. This is a perfect solution for gaining funding for short-term needs. Borrow any amount up to your limit, repay, and borrow again as needed.
KEY ACCOUNT FEATURES:
- Lines starting at $10,000
- Floating interest rate
- Provides working capital
- Collateral may or may not be required and may include accounts receivable, inventory, machinery and equipment, real estate, marketable securities, cash, and/or certificates of deposit
- No amortization and payments are interest only
- Fees may include an application fee, origination fee, annual fee, and/or out-of-pocket costs
TO BE ELIGIBLE FOR THESE PROGRAMS YOUR BUSINESS SHOULD:
- Meet established lending requirements and obtain credit approval
- Be established for at least two years (for secured lines) and three years (for unsecured lines)
- Have a satisfactory business and personal credit history
- Have no bankruptcies
- Be profitable with sufficient cash flow to meet both your new and current financial obligations
- Have adequate business income to support the term loan with no reliance on investment income
TO OPEN AN ACCOUNT:
- Download and complete a business loan application
- Apply at your local Flagstar branch
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Business Credit Cards
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Business Checking Accounts
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Business Savings Account
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Loans and lines of credit are subject to credit review and approval and underwriting terms and conditions. Loan repayment via automatic debit from a Flagstar checking account is required for all loans. Established credit criteria must be met. Apply at your local Flagstar branch. Fees may include a set-up fee, annual fee, and out-of-pocket costs.