A Sovereign Business Advisor Line of Credit will help you manage your short-term capital needs, such as funding payroll or managing seasonal fluctuations. Plus, now through November 27th we are waiving the $250 origination fee.*
Whether you need to finance working capital or just want to access credit when you need it, with a Sovereign Business Advisor Line of Credit you can borrow funds, repay the balance, and then borrow again as needed.
Features
A line of credit committed for 1 year that automatically renews on an annual basis**
Approval within 24 hours for requests of $50,000 or less, after receipt of a complete application
Access to funds when you need them, with your first book of checks free
Lower your rate by 1.5% when you have a qualifying relationship with Sovereign ***
Interest-only payment plans†
Apply now through November 27th and we'll waive the $250 origination fee*
*
Sovereign Bank will waive the one-time up-front $250 origination fee for the Business Advisor Line of Credit. Other fees may apply. To be eligible for this offer a complete application for a Business Advisor Line of Credit must be received by Sovereign on or before November 27, 2009. This offer is: non-transferable; for commercial customers only; and subject to the credit policies and guidelines of Sovereign Bank. This offer does not apply to (i) any existing line of credit that the customer may have with Sovereign Bank or (ii) any application submitted to Sovereign Bank prior to August 22, 2009.
**
Automatic renewal is at the Bank's discretion based upon Bank review.
***
Receive .5% off the per annum interest rate when payments are automatically debited from a Sovereign checking account, and another 1% off the per annum interest rate if you maintain a Business Checking Plus account with the Bank, subject to a rate floor established by the Bank.
†
The line of credit must be paid down to 40% of the credit limit for 30 consecutive days during each twelve month period.
