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FlexLine Business Line of Credit

Convenience of a credit card without high commercial rates.

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FlexLine Business Line of Credit Benefits

  • Demand revolving line of credit
  • Loan amounts range from $20,000 to $3,000,000
  • No line access fees
  • Two repayment options
  • Points are 1% or less, payable at closing
  • Security interest required

FlexLine Business Line of Credit

A FlexLine Business Line of Credit means you can design your own payment plan by choosing to make interest-only payments, or payments of interest with principal. Access to your funds is easy. Write a check, use Online Banking or Mobile Banking transfers, use Easy Touch Telephone Teller, or order a wire transfer. Best of all, we offer low line of credit interest rates as low as Prime plus 1%.

  • A secured, demand revolving credit facility.
  • Loan amounts range from $20,000 to $3,000,000.
  • No line access fees
  • Points are 1% or less payable at closing.
  • Rates generally float at Prime + 1% to Prime + 5% depending on credit worthiness (minimum 4%)*.
  • Requires personal guaranty of the business owner(s).
  • Repayment: interest-only or interest plus 3% of principal balance per month can be chosen.
  • Option for 2 to 3-year revolving line followed by 2 to 3-year amortization.
  • Collateral: first position lien on all business assets (except vehicles).
  • Collateral Loan to Value: varies based on the nature of the collateral. All loans must be secured. Federal regulations allows us to loan up to 80% of the value of the collateral.
  • Must have a DCU Checking Account during the life of your FlexLine.

As with all financial institutions, the borrower will pay all fees and expenses relating to the loan. Fees may include, but are not limited to, application fee, appraisal fee, attorney fees, recording fees, and any other fees that are normal to this type of transaction. All fees and expenses will be estimated for you prior to closing.

Minimum Requirements

  • Company must have been in business for 18 months or more.
  • Business must be located in Massachusetts, New Hampshire, or Rhode Island.
  • Personal and Business Credit must be satisfactory.

The rates, terms, and conditions above are guidelines and may not apply in certain situations. A DCU Representative will discuss any variations with you. Rates, terms, and conditions are subject to change without notice.

*The interest rate is determined by numerous factors including personal credit history, financial strength of the principals, experience of management, LTV, NOI (net operating income), and the type and condition of the property.

FlexLine Business Line of Credit is rated 5.0 out of 5 by 1.
Rated 5 out of 5 by from Excellent experience We just closed on a business LOC. Our experience with Heather Storme throughout the application process and closing was exceptional. Heather is knowledgeable, responsive and provides an excellent level of service. We look forward to working with DCU.
Date published: 2011-12-17
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Possible to use U.S. Gold Eagles as collateral?

Folks, I am interested in the possibility of applying for a business loan. Could I use U.S. Gold Eagle coins as collateral? If so, how would that work? Would I store them with you?
Asked by: Matt
We currently do not offer any Consumer Loans that would allow you to borrow against the value of your U.S. Gold Eagle coins. Consumer Loan options available that are collateral based include Auto, Stock, Savings, and Certificate secured loans at this time. You may also borrow against the available equity in any home you own in the US as a Home Equity or Mortgage.
Answered by: DCU Staff
Date published: 2013-10-23

Flexline Business Credit

I have been using the DCU Business account for the past 4 years. The business is located in CA. Though I have requested DCU in the past for a Flexline credit for operating the business, I was told that such facility was available only for the entities registered within RI, MA, NH. Is there a way that you can extend this benefit to other smaller business entities, but that exist in other states also?
Asked by: Astrob
DCU is only able to offer Business Loans in Massachusetts, New Hampshire, and Rhode Island. A DCU Home Equity Loan or Line of Credit is recommended through your Personal Membership if you own your own home and have available equity.
Answered by: DCU Staff
Date published: 2013-10-23

This question pertains to the FLEXLINE BUSINESS CREDIT loan. Will DCU accept real estate notes as collateral for a Flexline Business Credit line?

Asked by: Val Morin Inc
Loans will generally be secured by all business assets. At times, real estate equity may be required. For more detailed information you may reach a Commercial Lending Specialist by phone at (800) 328-8797.
Answered by: DCU Staff
Date published: 2018-09-15

Business Loan Collateral

Folks, I asked a question previously about using U.S. Gold Eagle coins as collateral for a BUSINESS loan, but you must have misread my question because you answered the question with respect to a CONSUMER loan. Does your answer also apply to a business loan?
Asked by: Matt
DCU does not offer any Consumer or Business loans that currenly use U.S. Gold Eagle coins as collateral.
Answered by: DCU Staff
Date published: 2013-10-26
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If you have any questions, please consult our Frequently Asked Questions page or, don't hesitate to call us.