A Redwood Credit Union Line of Credit will allow you to borrow only as much as you need, precisely when you need it. You may borrow up to a set amount and pay it down repeatedly, balancing your cash flow needs with this ready source of short-term funds. A Line of Credit is simple and easy to use, and is an excellent financial tool to:
- Get a competitive interest rate
- Cover short term cash needs until accounts receivable can be collected
- Use to take advantage of supplier discounts
- Meet seasonal working capital needs, as necessary
- Cash advances available for overdraft protection
A Line of Credit is most often secured by accounts receivable, inventory and other business assets, and may be renewable annually.