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Line of Credit Comparison

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Choice Credit® for Business
Line of Credit

Apply Online

What You Need to Apply »
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Business Equity
Line of Credit

Learn More

 What You Need to Apply »
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Secured
Line of Credit

Apply Online

 What You Need to Apply »
Loan Type Benefits

Offers a simple application process with a quicker credit decision

Uses real estate equity to secure longer repayment term and lower rates than unsecured revolving loan options

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

Short-term working capital, equipment, expansion, building improvements

Larger short-term capital needs, seasonal inventory, growing receivables
Account Features & Fees
Minimum Line Amount+1

$20,000

$10,000

$100,001
Maximum Line Amount+1

$100,000

$999,999

$3,000,000
Collateral Requirement

None

Residential or owner-occupied commercial real estate

Non-Real Estate business assets
Term

N/A

7 year draw period
followed by 10 year repayment

N/A
Interest Rates

Variable, based on the Prime Rate[2]

Variable, based on the Prime Rate[2]

Variable, based on the Prime Rate[2]
Annual Fee

$175

0.25% of committed line amount

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.

Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.
Required automatic monthly payment from PNC business checking account
Funds accessible by check, online transfer or telephone

yes

yes

yes
View balances, transactions and make payments online

yes

yes

yes
Provides optional Overdraft Protection to PNC business checking account

Choice Credit for Business Line of Credit

What You Need to Apply »

Loan Type Benefits

Offers a simple application process with a quicker credit decision

Typical Uses

Short-term working capital, cash flow timing gaps, general business needs

Account Features & Fees
Minimum Line Amount+1

$20,000

Maximum Line Amount+1

$100,000

Collateral Requirement

None

Term

N/A

Interest Rates

Variable, based on the Prime Rate[2]

Annual Fee

$175

Payments

Monthly interest plus principal payments. Payment amount is 1.5% of the balance (minimum $100).

Required automatic monthly payment from PNC business checking account
Funds accessible by check, online transfer or telephone

yes

View balances, transactions and make payments online

yes

Provides optional Overdraft Protection to PNC business checking account

Business Equity Line of Credit

 What You Need to Apply »

Loan Type Benefits

Uses real estate equity to secure longer repayment term and lower rates than unsecured revolving loan options

Typical Uses

Short-term working capital, equipment, expansion, building improvements

Account Features & Fees
Minimum Line Amount+1

$10,000

Maximum Line Amount+1

$999,999

Collateral Requirement

Residential or owner-occupied commercial real estate

Term

7 year draw period
followed by 10 year repayment

Interest Rates

Variable, based on the Prime Rate[2]

Annual Fee

0.25% of committed line amount

Payments

Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.

Required automatic monthly payment from PNC business checking account
Funds accessible by check, online transfer or telephone

yes

View balances, transactions and make payments online

yes

Provides optional Overdraft Protection to PNC business checking account

Secured Line of Credit

 What You Need to Apply »

Loan Type Benefits

Uses the value of receivables, inventory or equipment to obtain larger short-term working capital financing

Typical Uses

Larger short-term capital needs, seasonal inventory, growing receivables

Account Features & Fees
Minimum Line Amount+1

$100,001

Maximum Line Amount+1

$3,000,000

Collateral Requirement

Non-Real Estate business assets

Term

N/A

Interest Rates

Variable, based on the Prime Rate[2]

Annual Fee

0.25% of committed line amount

Payments

Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.

Required automatic monthly payment from PNC business checking account
Funds accessible by check, online transfer or telephone

yes

View balances, transactions and make payments online

yes

Provides optional Overdraft Protection to PNC business checking account

Important Legal Disclosures and Information

  1. All loans and lines of credit subject to credit approval and require automatic payment deduction from a business checking account. Origination and annual fees may apply.

  2. 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 (N.A.), a wholly owned subsidiary of PNC and Member FDIC.

PNC Bank is a registered mark of The PNC Financial Services Group, Inc.

 

PNC’s Retail Bank currently operates in all or part of the following States: Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, Washington DC, West Virginia and Wisconsin.  If your business is located outside of PNC’s servicing area, then please call us at 1-855-762-2365 for further assistance.

 

† Important information: Calls to or from us may be monitored or recorded by us for quality control and training purposes. By providing your phone number and/or email address, you consent and agree to receive phone calls and electronic mail from PNC, its affiliates and designees.

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The PNC Financial Services Group, Inc. All rights reserved.