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Business Line of Credit

Financial Bandwidth Your Business Needs

Whether it's working capital, seizing new opportunities, or addressing unexpected expenses, Chartway’s Business Line of Credit is your trusted partner on your entrepreneurial journey.

With a Chartway Business Line of Credit, you can benefit from:

Credit Limits Ranging from $10,000 to $50,000

Two-year Draw Period with Low Payment Options

No Collateral Required

Flexible Access to Your Funds

Table data for Business Line of Credit Rates
 Effective 07-14-2024
Standard Terms Rate - As Low As Minimum Credit Limit Maximum Credit Limit Alert Me
Secured Line of Credit 10.50% $10,000 $50,000
Unsecured Line of Credit 13.50% $10,000 $50,000
Rate based on risk scoring factors including length of business, liquidity, strength of guarantors, debt service coverage ratio, and others. Two-year draw period followed by repayment term up to 60 months.

Frequently Asked Questions

How can I qualify for a Chartway Business Loan?

You will need to have:

  • Business established for at least two years with 1 year tax returns
  • Liquidity to Total Debt = 7%
  • Combined Net Worth (borrower plus guarantor) at least 3x the loan amount for term loans and lines of credit, 2x for vehicles and Residential Commercial Real Estate.
  • Businesses must have a Chartway account with Prime Share and be located within Chartway’s markets (Virginia, Utah, Northern Arizona, Southern Nevada, North Carolina, Houston Texas area)
  • Business documentation and identification required from borrower and guarantors

How can I reach out for more questions?

  • If you have questions regarding our Business Loans, please give us a call at (877) 609-8533.

Is there a Loan Origination Fee?

  • A loan origination fee will apply to each small business loan. This fee is permitted to be deducted from the loan proceeds.

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