All loans and lines of credit subject to credit approval and require automatic payment deduction from a business checking account. Additional fees may apply.
PNC Small Business Line of Credit Comparison
Unsecured vs. Secured Key Features & Fees Compared
Overview
| Unsecured Small Business Line of Credit Contact Us What You Need to Apply | Secured Small Business Line of Credit Contact Us What You Need to Apply | |
|---|---|---|
| Loan Type Benefits | Simplified loan application and decisioning process | Uses the value of receivables, inventory or equipment to obtain larger short-term working capital financing |
| Typical Uses | Short-term working capital, cash flow timing gaps, general business needs | Larger short-term capital needs, seasonal inventory, growing receivables |
Account Features & Fees
| Unsecured Small Business Line of Credit | Secured Small Business Line of Credit | |
|---|---|---|
| Minimum Line Amount[1] | $10,000 | $100,001 |
| Maximum Line Amount[1] | $100,000 | N/A |
| Collateral Requirement | None | Non-Real Estate business assets |
| Term | N/A | N/A |
| Interest Rates | Variable, based on the Prime Rate[2] | Variable, based on the Prime Rate[2] |
| Annual Fee | $175 | 0.25% of committed line amount |
| Payments | Monthly interest plus principal payments. Payment amount is 1.5% of the balance (minimum $100). | Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time. |
| Required automatic monthly payment from a business checking account | Unsecured Small Business Line of Credit Feature Available | Secured Small Business Line of Credit Feature Available |
| Funds accessible by check, online transfer or telephone | Unsecured Small Business Line of Credit Feature Available | Secured Small Business Line of Credit Feature Available |
| View balances, transactions and make payments online | Unsecured Small Business Line of Credit Feature Available | Secured Small Business Line of Credit Feature Available |
| Provides optional Overdraft Protection to PNC business checking account | Unsecured Small Business Line of Credit Feature Available | Secured Small Business Line of Credit Feature Available |
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Prime Rate means the highest prime rate published in the "Money Rates" section of the Wall Street Journal for the last day of the preceding calendar month.
Not all features and benefits applicable for all products
Bank deposit, treasury management and lending products and services are provided by PNC Bank, National Association, a wholly-owned subsidiary of The PNC Financial Services Group, Inc. and Member FDIC.
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