Business Line of Credit

Easy access to funding allows you to react when the time is right.
Ultimate flexibility
Funds can be used for almost any expense your business may encounter.
Competitive rates
Flexible payment options and a low maintenance fee also keep costs under control.
Immediate access
Tap into your credit line anytime through your company's Online Banking account.
A total team effort
Experienced business lenders will offer insights and assistance during the application process.

Address your financial needs at a moment's notice.

 

Repair equipment or restock inventory. Purchase supplies or cover periods of slow cash flow. Business situations that require immediate action can arise at any time. With a line of credit from South Carolina Federal Credit Union, you can take care of the issue at hand and keep your business moving forward.
 

  • Secured or unsecured options available.
  • Revolving loan fund with annual renewals.
  • Access funds online, with checks, and at South Carolina Federal financial centers.
  • Low, flat annual fee of 0.25%, regardless of amount.
  • Link this credit line to your business checking account for overdraft protection.

All business entities will be required to provide information and documentation for the controlling party and for all owners of the business. A controlling party is an individual with significant responsibility for managing the legal entity.

Information required:

  • Full name
  • Address
  • Date of birth
  • Social Security Number
  • Phone number
  • Driver’s license number
  • Driver’s license state
  • Percentage of ownership, if applicable
  • Primary occupation, if also an owner of the business

If the controlling party is not present at account opening, please provide a copy of their driver’s license or other ID card. If you have any questions, please contact us.
 

Type of Entity Forms of Identification
Sole Proprietorship

Current picture ID and one of the following:

  • Business License or Retail License
  • Previous or current year tax return with Schedule C
  • IRS Letter 147c or IRS Form SS-4
Partnership

Current picture ID and two of the following:

  • Business License or Retail License
  • Partnership or Operating Agreement
  • Previous or current year tax return with Schedule C
  • Certificate of Existence/Certificate of Good Standing
  • IRS Letter 147c or IRS Form SS-4
Corporation or LLC

Current picture ID and two of the following:

  • Business License or Retail License
  • Certificate of Existence/Certificate of Good Standing
  • Articles of Incorporation or Organization
  • Previous or current year tax return with Schedule C
  • Operating Agreement
  • IRS Letter 147c or IRS Form SS-4
Organization or Association

Current picture ID and two of the following:

  • Copy of minutes appointing officers
  • Articles of Incorporation or Organization
  • Letter from secretary authorizing signers
  • IRS Letter 147c or IRS Form SS-4

 

Apply for a Business Line of Credit.
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Rate may vary based on individual creditworthiness. Terms and conditions subject to change without notice. Subject to credit approval.