Lines of Credit
United Bank & Trust lines of credit are offered to support working capital and are secured by short-term assets. They’re an excellent option for bridging the gap between revenue influx and expense payments. United Bank & Trust’s lines of credit have predetermined limits that allow companies to borrow a number of times without reapplying.
- Terms vary but are typically renewed annually
- Interest rates float with an agreed upon index
- Payments are typically interest only on a monthly basis
- Lines are secured by assets such as: accounts receivable, inventory and equipment