Business Lines Of Credit
Member One offers both secured and unsecured lines of credit to our business members to help them fund their ever-growing business needs.
What's the difference between a secured and an unsecured line of credit?
- Secured - Member One secures a lien on real estate collateral. For example, 1-4 residential or a true commercial real estate. This option offers lower rates and longer terms, versus an unsecured line of credit. This line of credit has a maturity of 5 years. This option also offers interest only minimum monthly payments, great for cash flow.
- Unsecured - Unlike a secured line of credit, no collateral is held and has a shorter maturity of 12 months.
For more information about our business accounts, please contact our Business Services Department.