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Lines of Credit

Cascadia’s lines of credit

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.

Who can get a line of credit?

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.

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.

How do I apply for a line of credit?

For more information, contact one of Cascadia’s lenders in Washington at (206) 447-9226, in Oregon at (503) 235-9635 or in Central Oregon at (541) 318-1120. They can tell you more about lines of credit and help you decide whether an LOC is appropriate for your business.

 


Mercedes Busche
Mama Jo's Traffic Control
In the two years that Mercedes Busche has been a Cascadia borrower, she has grown her business from nine full-time employees to an annual average of 35, increased her revenues dramatically, and purchased a house.

photo: Julie Keefe




Last updated February 2005

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