Lines Of Credit
(LOC)
Cascadia offers asset-based lines
of credit (LOCs). These LOCs provide fast access to funds on
an as-needed basis for short-term working capital needs. Once
established, availability of funds on the LOC is typically tied
to the value of the borrower’s accounts receivable. Lines
are monitored with borrowing base certificates and use a lock-box
system for pay downs.
Quick facts about
lines of credit
- The minimum size of a line is
$50,000. The maximum is $500,000.
- Interest rates range from 15-16%
depending on the level of risk.
- All lines have a 12 month term.
Borrowers may request a renewal of their LOC at maturity.
- A fee equal to 1% of the credit
limit is charged upon the closing of the loan.
What can loan
funds be used for?
Cascadia LOCs are used by manufacturers, wholesalers, and
service companies to manage their working capital needs. For
more information, see Who can
get a loan.
How do I apply
for a line of credit?
For more information, contact
one of Cascadia’s lenders in Seattle at (206) 447-9226 or
in Portland at (503) 235-9635. They can tell you more about lines
of credit and help you decide whether a LOC is appropriate for
your business.
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1901 NW Market
Street, Seattle, Washington 98107
Phone (206) 447-9226 w Facsimile (206) 682-4804