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Business Line of Credit
UCCU Business Line of Credit: Access Capital When You Need It
A UCCU Business Line of Credit is a flexible financing product designed to support the short-term operational and growth needs of your small business. Unlike a traditional term loan which provides a lump sum, a line of credit allows you to access funds repeatedly, up to a set credit limit, making it ideal for managing the fluctuations of working capital. This financial tool acts as a critical safety net, ensuring you can cover essential expenses like payroll, inventory purchases, or unexpected repairs without delay. You only pay interest on the amount you actually draw, not the total line available, making it a cost-effective solution for businesses managing variable expenses.
For small businesses, maintaining steady cash flow is often the biggest challenge. A Business Line of Credit provides that vital financial cushion, giving you the confidence to seize timely business opportunities, manage seasonal downturns, or invest in immediate inventory needs. Furthermore, using and responsibly repaying your line of credit is an excellent way to build and strengthen your business credit history, potentially qualifying you for larger financing or more favorable rates in the future. We offer both secured and unsecured options to align with your business assets and financial profile.
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Contact our team today to help get your business started with Positive Pay!
(801) 223-7665 | [email protected]
Available M–F 9am–5:30pm
Flexible Access & Cost-Effective
Draw funds whenever your business needs them, up to your approved limit. Interest is only charged on the outstanding balance, not the total credit line.
Supports Growth & Cash Flow
Manage seasonal sales cycles and unexpected expenditures with ease, ensuring continuous, smooth operation. This on-demand capital helps you quickly take advantage of opportunities.
Build Business Credit
Consistent, timely repayment on your UCCU line of credit helps establish a positive credit profile for your company. Which can improve your ability to qualify for future financing.
Choosing the right line of credit involves careful consideration of your business’s liquidity needs and future goals. Find competitive interest rates and transparent terms with us. We encourage you to compare the details—including interest rates (which are typically variable), potential fees, and the overall repayment structure—to ensure the solution perfectly matches your operational requirements. Whether you require a Secured Line of Credit by pledging collateral for potentially lower rates, or an Unsecured Line of Credit based purely on strong credit and revenues, get the guidance you need to find the appropriate product.
The application process is straightforward, focusing on your business’s financial health, creditworthiness, and operating history. To ensure a successful application, gather key documents like recent business tax returns, financial statements (P&L and balance sheets), and bank statements beforehand. Our dedicated UCCU Business Services Specialists are available to walk you through every step, helping you prepare a strong application and secure the capital needed to solidify your financial foundation. Our goal is to provide local businesses with the efficient, reliable funding necessary to thrive and pursue new opportunities with confidence.
Frequently Asked Questions
What is the difference between a line of credit and a term loan?
A term loan provides a single lump sum that you pay back over a fixed schedule. A line of credit is a flexible, revolving credit that allows you to borrow, repay, and borrow again up to a set limit. Interest is only charged on the funds you actually use.
Do I need collateral to get a Business Line of Credit?
Not always. UCCU offers both Secured Lines of Credit, which require collateral (like inventory or receivables) and often result in lower rates, and Unsecured Lines of Credit, which rely on the strength of your business and personal credit history.
What kind of documents will UCCU require for the application?
Typically, we require recent business financial statements (P&L, Balance Sheet), business tax returns, current bank statements, and identification for the principal owners. Having these prepared in advance will expedite the approval process.
Can I use the line of credit for long-term investments?
A Business Line of Credit is best suited for short-term, variable working capital needs (e.g., inventory, seasonal expenses, managing cash flow). For long-term investments like purchasing equipment or real estate, a term loan or other specialized financing may be more appropriate.