Business Line of Credit

Business Line of Credit

A revolving line of credit from First Northern Bank is a perfect solution for your working capital, inventory, and other short-term needs. Rather than a lump sum, you are approved for a credit line that you use as you need.

While the cash is always available, you only pay interest when and if you access it. And access is immediate; there's no need to re-apply since your credit line is already approved. We have an Express Line of Credit for smaller businesses that has a lower annual fee.

Summary
  • Competitive rates
  • For a Line of Credit from $10,000 to $300,000, contact us or download an application.
  • For a Line of Credit over $300,000, contact us
  • Line terms up to 5 years
  • $150 - $200 annual fee*
  • Variable rate, based on First Northern Bank's Commercial Base Rate
  • Quick approvals
  • Local decisions
  • Knowledgeable loan officers
  • Personal attention
  • Easy to apply

* Annual fee based on loan amount.

Express Line of Credit

Smaller businesses still have big working capital needs, and often need to act even faster. An Express Line of Credit from First Northern Bank is perfect for just about any short-term need or expansion opportunity.

  • Lines from $10,000 to $50,000
  • $150 annual fee
  • Interest only payments available
  • Line terms up to 5 years
  • Quick approvals
  • Local decisions
  • Knowledgeable advisors
  • Personal attention
  • Easy to apply
Streamlined Process

The world isn't slowing down. You know it and First Northern Bank knows it. If you want your business to keep up, you need answers quickly. First Northern Bank understands that.

Our lending process requires less paperwork and quicker solutions. Applying for loans of $50,000 or less requires a simple application. Applying for larger loans (up to $300,000) will require two years of financial information to be provided as well. Throughout every step, your First Northern Bank lending professional will be by your side.