Lines of Credit

Revolving lines of credit can help you manage fluctuating cash flow, and are great for short-term credit needs like purchasing inventory, materials, or equipment, and financing accounts receivable. And, because it’s a line of credit, funds repaid are available for borrowing again, up to your available credit limit, with no additional application fees or loan paperwork.

Express Lines of Credit

  • Financing up to $20,000
  • Loan decisions in 24 hours
  • Terms up to 5 years
  • $50 annual fee
  • $100 origination fee
  • No pre-payment fee
  • Low UCC filing and doc stamp fees

Small Business Lines of Credit

  • Financing up to $100,000
  • Loan decisions in 48 hours
  • Terms up to 5 years
  • 1% annual fee
  • ½% origination fee
  • No pre-payment fee
  • Low UCC filing and doc stamp fees

Commercial Term Lines of Credit

We also offer customized loan products to fit your needs. A FAIRWINDS Business Loan Officer will be happy to discuss your current situation and borrowing needs, and customize a loan or line of credit to provide the financing your business needs.

10/10/100
Business Loan Special

Owner-occupied financing from a banking partner you can trust.

  • 10-year fixed rate mortgage as low as 4.25%* on purchase or refinancing
  • 10-months interest-only mortgage payments while you complete your build out or expand your client base
  • $100,000 line of credit for additional expenses**

*Rates are fixed and will be set using the Prime rate plus a margin at the time of closing. Rate shown is for 70% loan-to-value.
**Rates as low as Prime plus 3.00% and are subject to change. Offer and rates subject to change without notice. Certain terms and conditions apply. Existing FAIRWINDS loans do not qualify for this offer. Offer subject to credit approval.

Line of Credit Comparison

Compare Loans
Express Lines of Credit Small Business Lines of Credit Commercial Term Lines of Credit

Offers

Fast Approval with low documentation requirements Fast Approval with low documentation requirements Customized financing to fit your needs

Perfect for

Purchasing inventory, materials, or equipment, and financing accounts receivable Purchasing inventory, materials, or equipment, and financing accounts receivable Purchasing inventory, materials, or equipment, and financing accounts receivable

 

     

Credit Amount

Up to $20,000 $20,000 to $100,000 Customized

Approval Time

24 hrs 48 hrs Customized

Interest Rates

Prime plus 3% - 4.50% Prime plus 1% - 4% Customized

Term

Up to 5 years Up to 5 years Customized

Application fees

$100 origination fee 1% origination fee Customized

Annual Fees

$50 1/2% annual fee Customized

Documentation Required

Low documentation Low documentation Customized
       

Needed Documents

  • Complete and signed commercial loan application
  • Brief description of the company
  • Signed/complete copies of the previous two years tax returns and all schedules for each owner or principal
  • Copies of W-2 (if applicable) for last two years
  • Copies of the last two year-end company financial statements (balance sheet, profit/loss statements and complete tax returns)
  • Current signed interim business financials statements
  • Projected profit and loss statements for the upcoming year
  • Current personal financial statements for each owner or principal with at least 20% ownership
  • Completed Schedule of Business Debts Worksheet

If the loan is to be secured by equipment inventory:

  • The most recent inventory listing with estimated values

If the loan is to be secured by equipment or used to purchase new/used equipment:

  • The most recent equipment listing with estimated values
  • New equipment: signed purchase agreement
  • Used equipment: signed purchased/sale agreement

If the loan is to be secured by a pledge of stocks, bonds, mutual funds, securities accounts or debentures:

  • A list of securities, values, date traded and source Business Organization Structure
  • For Corporations: Articles of Incorporation
  • For Partnerships: Partnership Agreement
  • For D/B/A: Assumed Name Certificate
  • For Limited Liability Companies: Articles of Organization