This is a line of credit designed to provide unions with overdraft protection. It is only available to unions 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 unions 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
- Call for Rates
Note: Union Loan requests under $5,000 will be classified as an unsecured personal loan.
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 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
If you have any questions, please call us at 800-332-2669.
