Business Lines of Credit
Our business lines of credit give you the flexibility to borrow what you need when you need it, to help your cash flow. Unlike a term or equipment loan, lines of credit help to cover the unexpected. Having one in place means your business is prepared for whatever may happen, whether it’s a chance to buy inventory at reduced prices or an unforeseen expense. With a line of credit in place, it will be business as usual despite the obstacles and opportunities that may come along.
Common Uses of Business Lines of Credit
- Covering cash shortfalls during the "ramp up" period of a seasonal business
- Paying for expenses before a job is completed and payment is received
- Taking advantage of reduced prices for inventory or materials
- Making smaller equipment purchases, like a new computer
- Bridging a gap between when your bills are due and when you receive payments from your customers
- Being able to move quickly on auction items - you can then refinance larger purchases into term loans to keep your line available for the next opportunity
Lines of Credit Features and Benefits
- Lines of credit start as low as $5,000
- Your line of credit can be unsecured or secured
- Interest-only payment options give you payment flexibility
- Easy access to funds via our community offices, online or by phone
- Access your line of credit from a card with our Business Card Line of Credit Card
- Streamlined lines of credit require no financial documentation to be provided, for when you need funds quickly. Restrictions apply - please contact any of our community offices for more information
- Link your line of credit to your First Commonwealth Bank business checking account for overdraft protection. Restrictions apply - please contact any of our community offices for more information
Lines of credit are just one of the many solutions we can provide for your business. We can help you determine how to structure your financing in a way that makes the most sense for your business needs, whether it’s a line of credit or a loan, or some combination thereof. Whatever your strategic direction and goals may be, you can be confident we’ll help you find the financing solutions that best meet your company’s needs. Connect with us to get started.
Additional Resources for Your Business
Checking Solutions – Our business checking accounts are designed to help you keep the pace of your business, including 24/7 access with online and mobile banking. Learn more.
Payment Processing Options – We’ve teamed up with TSYS® to offer you innovative, money-saving payment processing solutions. Get started.
Risk Management Services – With the right risk management strategies in place, your insurance management team can provide proactive communication, benchmarking and risk management strategies that protect your business and position you for growth. Learn more.