A happy business man in a striped collared shirt stands in front of inventory at his clothing store.

Business Lines of Credit

Helping you take advantage of opportunities

Success in business is about being able to identify potential opportunities—and then being able to act. Sometimes you’ll need funds to be available quickly for business opportunities or working capital.

The business lenders at JVB understand this, and more importantly know the business environment and community you will be working in due to our long-standing (150 years and counting) operations in Central and North Central Pennsylvania. One potential way we can help you is with a business line of credit.

If you own and operate a business (a sole proprietorship, partnership, LLC, or a corporation) in Central or North Central Pennsylvania, we have loan officers ready to assist you. In fact, JVB has branches in Juniata, Franklin, McKean, Mifflin, Perry, Center, and Potter counties. See if financing your business via a commercial line of credit works for you. 

What is a business line of credit?

Business lines of credit work like a typical consumer credit card in some respects, but not in others.

  • In terms of similarities, opening a business line of credit provides access to a specific credit allowance, much the same as a credit card provides a credit limit.  You can draw up to the full amount of this dollar limit for business needs.
  • A business line of credit is designed to be used for short-term needs that can be paid back quickly.  Long-term borrowing should be kept separate from the short-term borrowing of a business line of credit.

Differences include the following:

  • Business lines of credit must be used for business-related purposes including working capital such as inventory and accounts receivable financing. Longer term projects such as equipment or real estate would not be financed on a line of credit.
  • There may be maintenance and funds availability fees that are somewhat different from what one would expect with a personal credit card/line of credit.

Business credit lines can either be secured or unsecured:

  • A secured business line of credit means that you have assets (usually real estate or business assets) backing up the loan.
  • An unsecured line of credit, while not secured by business assets, is both a business and personal obligation.  Care must be taken to handle your account wisely since both business and personal liability could fall to you in the event that your business credit line is left unpaid.

What are some of the details of a business line of credit at JVB?

Each business is unique.  The experienced business lenders at JVB can provide more detailed information about specific terms that would apply to your business line of credit; however, here are some of the high level details:

  • Qualifying businesses include:
    • Limited Liability Company
    • Limited Liability Partnerships
    • Other Partnerships
    • Sole proprietors
    • S & C Corporations
  • Your line of credit can be accessed as needed.
  • Your line of credit is approved for a 60-month period, and will be reviewed annually by the experienced lenders at JVB.
  • JVB takes pride in crafting a business line of credit which takes into consideration your individual and unique personal circumstances as a local business owner, allowing JVB to offer very competitive interest rates to our clients.

Is a business line of credit right for me?

  • Call the JVB Customer Care Center to be connected to one of our experienced business lenders.  1-855-582-5101
  • Let us call you.  Use our Schedule a Call form and someone will contact you on a date and at a time of your choosing.
  • Email our team to determine if a business line of credit is right for your needs.
  • Chat with us right now using the Live Chat link showing at the top of the page.

CONTACT A LENDING EXPERT