A superior line of credit that offers fast, easy access to funds whenever you need them and the option to secure a lower rate by using your investments as collateral.
Who it's for
Premium CreditLine is designed for business owners who need credit for:
- Improving cash flow, funding payroll, or seasonal working capital
- Refinancing debt
- Purchasing inventory and materials
- Financing accounts receivables
- Emergency funds
Premium CreditLine features
- Available for amounts $25,000 and up.
- Variable rate based on prime.
- Fast, easy access to funds via check*, online transfer*, banking center transfer or telephone transfer
- No loan closing saves you time*
- Gives your business access to funds whenever you need them
- Pay no interest until you draw funds
- Interest is charged only on the portion of the line you use
- Flexibility to pay in full or over time
- Competitive, variable rate of interest
- May be secured by blanket lien on business assets, investments or owner occupied real estate
- Convenient monthly repayment terms, including minimum interest-only payments and auto-debit payment from a Bank of America business checking account
Requirements
- Business established 2 or more years.
- Financial documentation required including the past 2 most recent years business tax return, and most recent years' personal tax return generally required.
- All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership represented.
Footnote*feature available for Premium CreditLine up to $250,000
When you open a line of credit with Bank of America, you get much more than just a financing solution. You get a trusted financial advisor dedicated to helping your small business succeed. We make business financing easy with a variety of lending solutions to fit your business needs, and the advantages of:
Convenience and service
- Easy access to funds via check*, online transfer*, banking center transfer or telephone transfer
- A single destination for personal and business accounts
- Extensive network of more than 16,700 ATMs and 5,800 banking centers nationwide
Find ATMs and banking centers
- Free Online Banking service1 for
- 24/7 account access
- up-to-the-minute daily balances
- unlimited Bill Pay
Learn more
Relationship-based pricing
- Flexible, relationship-based pricing rewards our best customers with the best discounts
- Discounts for Bank of America checking and business account holders
- 1% interest rate discount is provided for auto-debit from a Bank of America business checking account
Expertise and trust
- As a preferred lender of the Small Business Administration (SBA), we have a proven track record of helping small businesses succeed
- Thousands of dedicated small business advisors, available 24/7
- Our Business Resource Center offers a variety of tools and information to help your business, including interactive workshops, online guides, and useful calculators
- #1 in online security and prevention of identity theft
Footnote1In general, Online Banking service is available for Premium CreditLines of $250,000and less
Footnote*feature available for Premium CreditLine up to $250,000
