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Business Overdraft Line Of Credit
You have enough to think about as a business owner - you shouldn't have to worry about covering a check if your checking account balance is low. Allied First Bank's business overdraft line of credit can help you avoid the inconvenience and associated fees of an overdrawn account.
The business overdraft line is a revolving line of credit attached to your business checking account that will automatically advance when a check is written for an amount greater than the balance available in the checking account. Subsequent payments are made by automatic transfer from the checking account on the first business day of each month. Transactions are detailed on a monthly statement.
Business Overdraft Line Features and Benefits
- Automatic coverage helps you avoid the embarrassment and expense of a dishonored check
- Revolving credit offers short-term funds availability without making a new loan request
- Credit limits up to $15,000 available to cover most check amounts
- Automatic payment eliminates the need to mail in a payment each month
- Protecting your credit rating assures that you continue to have access to lower cost credit
- Competitive annual percentage rate
- The line may be paid in full at any time without penalty
- The line remains in place until it is needed, even if it is not used
When your business needs to bridge short term or unexpected funding needs, an Allied First Bank business overdraft line is the answer.
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