A Sovereign Business Advisor Line of Credit will help you manage your short-term capital needs, such as funding payroll or managing seasonal fluctuations.
Whether you need to finance working capital or just want to access credit when you need it, with a Sovereign Business Advisor Line of Credit you can borrow funds, repay the balance, and then borrow again as needed.
Features
A line of credit committed for 1 year that automatically renews on an annual basis*
Approval within 24 hours for requests of $50,000 or less, after receipt of a complete application
Access to funds when you need them, with your first book of checks free
Lower your rate by 1.5% when you have a qualifying relationship with Sovereign **
Interest-only payment plans†
*
Automatic renewal is at the Bank's discretion based upon Bank review.
**
Receive .5% off the per annum interest rate when payments are automatically debited from a Sovereign checking account, and another 1% off the per annum interest rate if you maintain a Business Checking Plus account with the Bank, subject to a rate floor established by the Bank.
†
The line of credit must be paid down to 40% of the credit limit for 30 consecutive days during each twelve month period.
Equal Housing Lender - Member FDIC
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