The money you need for your business, when you need it
With American Bank’s Working Capital Line of Credit, you can obtain the money you need to fund your accounts receivable, inventory or any other short-term cash flow needs. Features of this line of credit include:
- Lines are revolving and secured by your company’s business assets
- Monthly interest-only payments
- Competitive floating interest rates based on either the SOFR or Wall Street Journal Prime Rate (plus or minus a predetermined spread, depending upon a credit evaluation)
We also have a Discretionary Line of Credit available for business owners. Our Discretionary Line of Credit has the following features:
- Lines are revolving and can be secured or unsecured
- Monthly interest only payments
- Easy access to monies when you bank online through AmericanBank Online
- Competitive interest rates
American Bank’s e-Line (Business Equipment Line of Credit) is a non-revolving facility that is ideal for making “hassle-free” new equipment or vehicle purchases. Fast approvals, competitive rates, great service and easy access are just a few of the reasons to utilize our e-Line. Here are some additional features and benefits:
- Credit limits ranging from $10,000 to $2,000,000 (maximum line amount is dependent upon review of three years financial statements of borrowing business)
- Allows your business the flexibility of a pre-approved line for making future equipment purchases
- Finance office furniture & equipment, construction equipment, machine tools, computers & peripherals, phone systems, trucks & trailers, medical equipment and virtually any other type of equipment
- Finance up to 100% of the purchase price (depending upon personal and business credit evaluation)
- All advances will be based upon invoices and termed out over a period not to exceed five years (minimum advance is $5,000)
- No prepayment penalties
- Fixed interest rates will be locked at time of submission of invoices. The rate will be fixed based upon the corresponding treasury yield plus a spread determined upon approval
- Fees – 0.50% of the line amount plus recording costs payable at closing
- Equipment purchased will secure all advances made under the line
When you apply for any Line of Credit from American Bank, you will also always be assured of receiving personalized service from your loan officer and quick, efficient turnaround as loan decisions are always made locally.