Business Line of Credit

Business Line of Credit

A business line of credit loan gives you the ability to borrow money when you need it.

 

If you have any questions or would like to apply for a Business Loan, please contact Commercial Lending at commercial.lending@ffnm.org or 505-357-1006.
Details

Uses:

  • Separate business expenses from personal expenses
  • Easy access from Online Banking, by phone or at a branch

Benefits:

  • Flexibility to withdraw as much or as little funds as you need

What we consider when evaluating a business lending request:

Business Standing

Our Lenders consider your business history, current business standing, and the type of loan you desire. For some loan types, including SBA loans, you may also be required to provide a business plan highlighting your project financial statement, including profit and loss, cash flow, and balance sheets. 

Collateral

The loan you can secure may depend in part on the collateral you have available to put up against the loan value. As part of the loan process, you may want to prepare information regarding the value of potential collateral items.

Financial Standing

To determine your business’ creditworthiness, our lenders may review several sources of information, including your credit score, bank statement, tax returns, and other information. 

Legal Standing

Our lender may want a good idea of contracts you have in place with third parties, any leases or other agreements that are in place, and your business licenses or registrations.

Our calculators are for informational purposes only and are not intended to provide financial advice. All examples are hypothetical and for illustrative purposes. Although we have obtained content from sources deemed to be reliable, Kasasa and its affiliates are not responsible for any content provided by unaffiliated third parties. You may wish to consult an appropriate outside advisor about your financial situation.

Our calculators are for informational purposes only and are not intended to provide financial advice. All examples are hypothetical and for illustrative purposes. Although we have obtained content from sources deemed to be reliable, Kasasa and its affiliates are not responsible for any content provided by unaffiliated third parties. You may wish to consult an appropriate outside advisor about your financial situation.

Our calculators are for informational purposes only and are not intended to provide financial advice. All examples are hypothetical and for illustrative purposes. Although we have obtained content from sources deemed to be reliable, Kasasa and its affiliates are not responsible for any content provided by unaffiliated third parties. You may wish to consult an appropriate outside advisor about your financial situation.

Our calculators are for informational purposes only and are not intended to provide financial advice. All examples are hypothetical and for illustrative purposes. Although we have obtained content from sources deemed to be reliable, Kasasa and its affiliates are not responsible for any content provided by unaffiliated third parties. You may wish to consult an appropriate outside advisor about your financial situation.

Our calculators are for informational purposes only and are not intended to provide financial advice. All examples are hypothetical and for illustrative purposes. Although we have obtained content from sources deemed to be reliable, Kasasa and its affiliates are not responsible for any content provided by unaffiliated third parties. You may wish to consult an appropriate outside advisor about your financial situation.