Business Equity Line of Credit
Power your biggest projects.
Business Equity Line of Credit 101
A line of credit that can take you further. This loan is secured by either commercial or residential property, so you can borrow anywhere from $40K - $250K+ to get your larger-than-life projects off the ground.
When more is just right.
Investing in significant improvements now can mean big things down the road. From home and business additions to major equipment and tech upgrades, where there’s room to grow, there’s room for possibilities. As always with a line of credit, you’ll only pay interest on what you use, and you’ll have up to five years (or more) to repay. Our terms are flexible so you can be too.
Business Equity Line of Credit Benefits
Get going
Build your next big thing faster than you thought possible with a business equity line of credit. Schedule an appointment with us and apply today.
Take our card. If you're creative and courageous, you're our kind of person.
- Phone: 931.431.6800
- Email: info@forteracu.com
FAQs
What would I use the Business Equity Line of Credit for?
This loan is great for larger-than-life projects that don't have a fixed price. If you are in need of a large retail renovation or an entirely new tech upgrade, this is a great option for you. It allows you the flexibility to borrow what you need instead of requiring you to borrow a larger sum.
How much funding can I get with a Business Equity Line of Credit?
You can get anywhere from $40K - $250K+ when you apply for a Business Equity Line of Credit.
What is the difference between a Business Essential Loan and a Business Equity Line of Credit?
The two biggest differences between a Business Essential Loan and a Business Equity Line of Credit are the types of interest rates for each loan and how one receives their funds. Business Essential Loans are fixed-rate loans and they are given in one large lump sum. A Business Equity Line of Credit is a variable rate loan and business members receive access to a line of credit. You can borrow as much as you need without having to commit to a large lump sum.
Can I make additional payments on a Business Equity Line of Credit?
Yes! You can make additional payments on all Fortera Loans.
What documents do I need to apply for a Business Equity Line of Credit?
To verify your identity, we always ask that you come prepared with a government-issued ID. It is important that it is not expired. Examples of acceptable IDs include a State Driver's License or a U.S or Foreign Passport. If we have trouble validating your ID, we may ask for a secondary ID. If you have a question about whether or not an ID can be used, just text us at 931.431.6800 or chat with us at forteracu.com. Please click here for full list of the documents you will need.
Can I apply for the Business Equity Line of Credit online or do I need to apply for it at a branch location?
You do need to call us or come into a branch to open this account. We are working toward having easy online applications soon. In the meantime, please call us at 931.431.6800, email us at info@forteracu.com, or schedule an appointment to open an account.
How many times can I withdraw money from my BELOC?
As many times as you would like. There is no limit to how many times you can make a withdrawal on a BELOC.
What is the timeline for making payments on a BELOC?
You’ll have 10 years to borrow, and 20 years to repay. For the first 10 years of your BELOC, you’ll only pay the interest, and only on the amount you actually borrow. Starting year 11, you’ll begin to repay the borrowed loan amount plus interest, and you’ll have 20 years total to pay back what you use.
What's New
