Line of Credit Comparison
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| 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 | |
| Minimum Line Amount+1 | |
$20,000 |
$100,001 |
| Maximum Line Amount+1 | |
$100,000 |
$3,000,000 |
| 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 PNC business checking account | |
yes |
yes |
| Funds accessible by check, online transfer or telephone | |
yes |
yes |
| View balances, transactions and make payments online | |
yes |
yes |
| Provides optional Overdraft Protection to PNC business checking account | |
yes |
yes |
Small Business Line of Credit
Simplified loan application and decisioning process
Short-term working capital, cash flow timing gaps, general business needs
$20,000
$100,000
None
N/A
Variable, based on the Prime Rate[2]
$175
Monthly interest plus principal payments. Payment amount is 1.5% of the balance (minimum $100).
yes
yes
yes
yes
Secured Small Business Line of Credit
Uses the value of receivables, inventory or equipment to obtain larger short-term working capital financing
Larger short-term capital needs, seasonal inventory, growing receivables
$100,001
$3,000,000
Non-Real Estate business assets
N/A
Variable, based on the Prime Rate[2]
0.25% of committed line amount
Monthly interest-only payments during revolving credit period. Principal payments can also be made at any time.
yes
yes
yes
yes
Important Legal Disclosures and Information
All loans and lines of credit subject to credit approval and require automatic payment deduction from a business checking account. Additional fees may apply.
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 PNC and Member FDIC.
PNC is a registered mark of The PNC Financial Services Group, Inc.
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