As per your concern I will get details of Bank Of America, Secured Business Line of Credit so that you ca get idea.

Features
Flexible revolving credit lines starting at $10,000

Competitive variable rate based on the prime rate (we also consider your overall business relationship with Bank of America)

Fast, easy access to funds whenever you need them—online, over the phone or in a financial center

Pay no interest until you draw funds

Pay in full or over time

Fee
Upfront fees Renewal fee
$150 for amounts up to and including $100,000 $150 for amounts up to and including $100,000

$250 for amounts above $100,000 and up to and including $250,000 $250 for amounts above $100,000 and up to and including $250,000

0.5% of the line amount for amounts above $250,000 0.5% of the line amount for amounts above $250,000

Term
Revolving with annual renewal

Rate
Competitive rate based on the prime rate and that considers your overall business relationship with Bank of America

Way to secure credit line
You may not be required to secure your line of credit for amounts of $100,000 and less. Lines of credit greater than $100,000 will be required to be secured by a blanket lien on general assets or a certificate of deposit.

If you secure your line of credit with a certificate of deposit, you can borrow up to 100% of the value of the CD.


Address:-
Bank Of America
Corporate Center, 100 North Tryon Street, Charlotte, NC 28255

Phone:-
00 1 315-724-4022