Bank Line Of Credit Agreement

From the lender`s perspective, secured lines of credit offer the lender the right to confiscate the asset in the event of non-payment SunTrust offers a revolving line of credit of up to $250,000 (up to US$500,000 for private debt management clients) with no necessary collateral and no application or annual fees. The borrower must meet the minimum asset requirements - investable assets of at least $100,000. A 0.25% discount applies when the payment is automatically deducted from a SunTrust account. The online application process takes only 15 minutes, but the whole process consists of several following steps: interim loan decision, credit processing, final decision, and credit closing. Borrowers can apply for lines of credit from a bank, credit union or other financial institution.