Business Line of Credit
What Offers our business members with a borrowing option for readily available funds at a low cost
Who Business Members
Period Varies on product type
Borrowing Limit Up to C$5,000,000* (dependent on product type)
This product offers our business members financing solutions with the advantage of instant borrowing opportunities.
Features and Qualifications
This variable rate financing solution acts like a pre-approved loan that can be accessed within an existing Sharons Credit Union account. Members can decide when and how much to borrow and interest is only applicable to the borrowed amount. With no set prepayment schedule, members have control of reducing their borrowed amounts.
This product is available to business members who are eligible with regards to the lending criteria, guidelines, terms and conditions and fees.
|Real Estate Secured||$500,000|
|Negotiable Security Secured||$100,000|
*Existing outside Financial Institution financing and credit scores play a role in eligibility, terms and limits in borrowing.