Lines of Credit
Working capital lines of credit are available for your business to provide cash flow for short term needs and to finance inventory and accounts receivable. These lines are offered on a secured basis at a floating rate and are tied to the Wall Street Journal Prime Rate.
For more information please call 781-646-3900 or email:
Business purpose: Short term working capital and purchase of inventory.
Loan amount: $25,000 to $1,000,000
Terms/Maturity: Demand - annual review.
Interest rate: Variable based on the Prime Rate as published in the Wall Street Journal plus a margin.
Access to funding: Advances made directly to your Leader Bank checking account.
Monthly payment: Interest only, principal paid at borrower's discretion, Annual 30-day clean up required.
Collateral: A first lien on all business assets and/or liquid collateral such as CDs or securities.
Guaranties: Required from each borrower/owner.
Costs: Closing costs vary by complexity of transaction.
Features/benefits: Automatic payment feature.
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