Secured Business Line of Credit

Account Description

An Adjustable Rate Line of Credit, secured by real estate, used to provide working capital for business purposes.
Can be used to assist seasonal business credit needs.
Variety of payment options available:
- Principal and interest payments (based on 0.50% of principal outstanding plus 30 days interest)
- Interest Only payments
Applicants must qualify according to First Federal Lakewood Underwriting Guidelines for commercial loans.
Loan limits are dependant on applicant's qualifications.
No prepayment penalty.
Payments are due on the 1st of the month.
Requires First Federal Lakewood Business Checking Account.
3 year terms.

Account Features

Account Disclosure/Statements

Assistance