Lines of Credit
Similar to our personal line of credit, our business line of credit allows you to draw on your chequing account to an agreed limit. With a line of credit, your business can borrow what is needed, when it’s needed. Interest is charged only on the portion of the line of credit actually used and interest costs are reduced when you deposit funds to pay down your line of credit.
Commercial Line of Credit
Directly linked to your Business 1 Account, once established, this option allows business members immediate access to credit should the balance fluctuate into a negative amount, without having to transfer funds from one account to another, and without an additional service fee. Interest is payable monthly, if applicable.
This product allows a small overdraft line of credit ($500-$25,000) to be linked directly to a members Business One Account to assist with the day to day needs of their business. Interest is calculated daily, payable monthly. Please see your local Kawartha Credit Union branch for more information and how to apply.