Member FDIC

 
 

Line of Credit

A Community Bank of Broward Business Line of Credit may be appropriate if your asset conversion cycle has expanded, indicating the need to:

  • Take advantage of trade discounts
  • Carry receivables
  • Purchase inventory
  • Finance seasonal sales or sales fluctuations
A line of credit is secured by collateral, which may consist of any combination of the following:
  • Accounts receivable
  • Inventory
  • Equipment, furniture and fixtures
  • Investments such as marketable securities, cash value life insurance and certificates of deposit
  • Equity in real property
  • Principal's hypothecated assets
To qualify for a Community Bank of Broward Business Line of Credit, your business should meet the following basic criteria:
  • Show a business history of three years' duration.
  • Demonstrate sufficient cash flow to adequately meet debt service and to pay down the line at least once throughout the operating year.
Community Bank of Broward works closely with the Small Business Administration, providing both packaging and underwriting for qualified borrowers who wish to take advantage of federal loan guarantees under the SBA program guidelines.

Need a business loan, but not sure what is right for your business?

If you need money for your business, but you are not sure what type of loan you need, please call or visit the branch nearest you and a loan officer will call you within one business day.