Advantage Credit Line
GSB's secured working capital line of credit, the Business Advantage Credit Line is ideal for businesses looking to supplement monthly cash flow and smooth out seasonal credit needs.
Commercial Credlit Lines over $250,000 are also available. For additional information and current interest rates on any businesss loan, contact a Business Banker at (847) 729-1900.
- Line amounts of $10,000 to $250,000
- True revolving line of credit. Interest charged only on the outstanding balance. Pay down to save interest expense and draw back when funds are needed.
- Requires general assignment of business assets as collateral and personal guarantee of the business owner.
- Flexible terms with annual account reviews
- Variable interest rate based on GSB's Corporate Base Rate
- $50 non-refundable application fee and $100 documentation fee
- Annual fee of 1% of commitment amount, $100 minimum
- $1,000 minimum draw amount by Business Advantage Credit Line check or through PC cash Management system.
Interest payments are automatically charged to a designated checking account each month, so there is no need to write a check.