Business Line of Credit
When you need fast funds to help support your short-term cash needs, we're here to help. With a Midwest Bank Business Line of Credit, you can access up to $250,000 to meet your short-term business cash needs. We'll automatically deduct your monthly interest payments from your Midwest Bank checking account, providing convenience and ease of use.
Requirements:
- Completed Business Loan Application and personal financial forms for all owners/partners with 20% or greater interest in the business
- Signed copies of your business and personal tax returns for the last two years
- Latest business interim financial statement
- Latest aging of accounts receivable and payables
- Business is at least two years old
- Good credit history
- Ability to demonstrate sufficient cash flow and continued earnings to service your debts
- Summary of management's experience in the industry
