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Three or more years in business
$100K–$5M Gross Annual Revenue
A U.S. based checking account (doesn't need to be PNC)
Social Security Number
Most Recent Business Checking Account Statement
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If you draw funds, monthly payments are $100 or 1.5% of the outstanding debt, whichever is greater
You will need to provide general information about your business (annual revenue, time in business), together with a copy of your recent business checking account statement and personal information regarding each applicant and/or co-applicant. This information will enable PNC to conduct credit underwriting and due diligence, including verification of the information you provided.
Subject to credit underwriting and due diligence approval, you could be offered a line of credit in an amount up to $100,000.00. Such line of credit amount will be established based upon a variety of credit underwriting factors, including the applicant’s and/or co-applicant’s credit profile, and other financial and other information.
Provided that all information necessary to make a credit underwriting decision has been received by PNC Bank, you may receive a decision regarding your application in as little as one business day from the date your application is submitted. In the event that additional information is needed to complete credit underwriting and due diligence in connection with your application, we will reach out to you within five business days from the date your application is submitted.
You are not required to have a PNC business checking account. However, you will need a business checking account from which payments on your line of credit will be made and advances deposited – this can be a non-PNC account.
There are no origination fees and no annual fees for the PNC Business Line of Credit.
Provided that your application for a PNC Business Line of Credit is approved, funds will be available for use in as little as 1–3 business days after you have accepted and signed final loan documents.
All loans and lines of credit are subject to full credit underwriting, due diligence and approval. Completion and submission of this request does not constitute a commitment by PNC to lend nor does it create any obligation on the part of PNC. PNC will not be deemed to extend any commitment to you unless and until a definitive agreement relating to the proposed loan or line of credit is signed. Any loan or line of credit that is approved will require automatic payment deduction from a business checking account. Availability of funds subject to credit approval, dollar amount requested and timing of request.
The interest rate is subject to change from time to time, based on changes in an independent index which will be the highest Prime Rate published in the “Money Rates” section of The Wall Street Journal (the “Index”). The Index is not necessarily the lowest rate we charge on our loans. The interest rate provided above, for informational purposes, was calculated based on the current Index of 4.75% plus a margin of 7.49%.
The monthly payment amount is an estimate and calculated based on the assumption that each periodic payment will be made on the date when due, and that the interest rate Index remains constant. The minimum monthly payment will be equal to the greater of (i) one and one half percent (1.5%) of the ending balance reflected on the billing statement (plus any and all fees); or (ii) $100.00. Any repayment schedule provided is only an estimate, and is superseded by the terms of the loan documents entered into between the Applicant and the Bank regarding the accrual and payment of principal and interest. The outstanding principal balance of your credit facility may increase or decrease based on frequency and amount of requested draws and repayment history.
Based on branches and deposits.
One copy of your latest bank statement must be provided prior to submission of your application. PNC reserves the right and may request additional documentation in connection with its credit underwriting analysis and due diligence review, which may include, without limitation, organizational documents, driver’s license, social security card, or business tax return.
Advances under the line of credit will be subject to the terms of definitive loan documents.
Bank deposit, treasury management, and lending products and services are provided by PNC Bank, National Association (N.A.), a wholly owned subsidiary of PNC and Member FDIC.
PNC Bank is a registered mark of The PNC Financial Services Group, Inc.
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.