Secure this new business line of credit promotional rate
before January 5, 2024.1,2,3
Access the funds your business needs, when you need them, with a business line of
credit and support from your Relationship Manager.
BORROW UP TO
$1 Million**Subject to credit approval.
BORROW UP TO
$250,000**Subject to credit approval.
A business line of credit allows your business to borrow money to supplement cash flow, take advantage of business opportunities, expand your business or cover a variety of other business expenses.
A business line of credit provides you with access to a certain amount of money that you can draw from when your business needs working capital. You will only need to pay back the amount you withdraw, plus interest.
Business lines of credit are typically secured or unsecured. A secured business line of credit requires the business to pledge collateral such as cash, inventory, property or equipment to secure funds, whereas an unsecured business line of credit does not require collateral.
Applicants must complete and submit an application through a City National Bank Relationship Manager. Give us a call, send us your information, or visit your local City National Bank branch to get started.
A business line of credit is a great way for growing businesses to satisfy its cash flow needs. Businesses can use funds for a variety of purposes, allowing you to allocate funds where you need them most. And unlike a loan, a business line of credit allows you to use funds only when you need them, and you are only required to pay interest on the amount that you use.
Send us your information and a member of our team
will contact you to get started.
By submitting this form you are authorizing City National Bank to: (1) contact you via phone and/or email; (2) send you emails for marketing purposes; and (3) collect and use your information according to the terms of our Privacy Policy.
1. The Basic Business Builder Line of Credit is available in an amount between $10,000 and $250,000. The introductory rate is a fixed rate of 7.50% for the first twelve months following the opening of the Basic Business Builder Line of Credit account. Thereafter, the rate will vary based on the City National Bank Prime Rate, as it changes from time to time, plus a margin assigned by City National, with a minimum interest rate of 3.50%. Any rate discount for automatic payment from a City National business checking account will not reduce the fixed rate during the 12-month introductory period or any time the 3.50% minimum interest rate applies thereafter. Additional fees may apply. A Basic Business Builder Line of Credit account in an amount greater than $100,000 must be secured by a security interest of first priority in business assets (other than real estate). The Basic Business Builder Line of Credit has no predetermined maturity date and is subject to cancellation at any time. See Terms of Offer below.
2. The Business Line of Credit is available in an amount between $250,001 and $1,000,000. Introductory rate is a fixed rate of 7.50% for the first twelve months following the opening of the Business Line of Credit. Thereafter, the rate will be a variable rate based on the City National Bank Prime Rate, as it changes from time to time, plus a margin assigned by City National, with a minimum interest rate of 3.50%. Any rate discount for automatic payment from a City National business checking account will not reduce the fixed rate during the 12-month introductory period or any time the 3.50% minimum interest rate applies thereafter. Additional fees may apply. The Business Line of Credit must be secured by a security interest of first priority in business assets (other than real estate). The Business Line of Credit has a term of one year and may be renewed for additional one-year periods at City National’s option. If the Business Line of Credit is renewed, the interest rate will be a variable rate based on the City National Bank Prime Rate, as it changes from time to time, plus a margin assigned by City National, with a minimum interest rate of 3.50%. If the Business Line of Credit is not renewed by City National at the end of any one-year term, a balloon payment of the entire outstanding balance will be due and payable. See Terms of Offer below.
3. Terms of Offer: This offer is effective starting October 2, 2023. This offer is limited to the business organization addressee only and is not transferable. The business organization may receive the 7.50% introductory fixed rate offer for only one of either a Basic Business Builder Line of Credit, or a Business Line of Credit. The Basic Business Builder Line of Credit and Business Line of Credit are subject to credit approval and documentation acceptable to City National Bank. This offer is not available to Small Business Administration guaranteed lines of credit, asset-based or similar lines of credit, or any renewals, extensions, modifications or refinancing of any existing lines of credit. To be eligible for these offers, (i) a signed and dated loan application on City National’s approved form, as well as financial and other information requested by City National, must be received no later than January 5, 2024, and (ii) if a Basic Business Builder Line of Credit or Business Line of Credit is approved, then (a) loan closing must occur on or before March 8, 2024, and (b) a City National business checking in good standing, which is subject to the account’s standard transaction and other applicable fees, must be open before loan closing. Additional terms, conditions and fees apply. Ask us for details.
4. Variable rates are subject to change and may fluctuate. Monthly payment will also include any assessed fees. If line of credit is cancelled or terminated, monthly payments will change to principal and interest as well as any assessed fees.
*Subject to credit approval. Secured loans and lines may allow for higher loan amounts or credit limits.
Non-Deposit Investment Products: • Are Not FDIC Insured • Are Not Bank Guaranteed • May Lose Value
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