This is a line of credit designed to provide small businesses with overdraft protection. It is only available to business customers who maintain a checking account with Amalgamated Bank. ABC Business Line of Credit funds are accessible by check only and eliminate worry about short terms credit needs.
- Amount: $5,000 to $25,000
- Term: 24 months
- Payment of 1/24 of the average outstanding balance plus accrued interest deducted from checking account at the end of each month
- Call for Rates
Enables businesses to borrow monies for acquisition of fixed assets or leasehold improvements without having to qualify under the bank's normal commercial credit criteria.
- Amount: $5,000 to $25,000
- Term: 12-72 months
- Rate: Call for Rates
Note: Business Loan requests under $5,000 will be classified as an unsecured personal loan
- Used when period that money is required exceeds one year
- Can be repaid and re-borrowed during entire term of line of credit
- Ideal for growing organizations
- Rates vary
Serves as a guarantee for financing.
- Serves as a credit enhancement for loans, performance bonds, construction contracts, etc.
- Maximum term of one year
- Collateral up to 100%
- Tailored loan for equipment purchases and business expansions
- The purchased equipment is used for collateral
- Flexible terms are available
- Fixed or variable rates
Ideal for businesses/unions that have seasonal disparities of expenses and revenue.
- Money is used to bridge time prior to receiving revenue, when loan is reduced to $0
- Line may be secured or unsecured
