Personal Business About Community Investors

Business Reserve Account (Overdraft Protection)

With our Business Reserve Account, your business has the opportunity to keep less money in checking and more money where it can work harder for you. This line of credit is tied to your checking account.  If the amount of inclearing checks exceeds your balance, funds from the line will transfer in to cover the checks in $100 increments.

  • Loan amounts range from $1,000 to $5,000 or more, based upon business needs and repayment capacity.
  • Terms are for 12-month periods, subject to annual review/renewal.
  • Repayment is the lower of 1/10th of the line amount plus interest, or principal balance plus interest, payable monthly.
  • Pricing is a fixed interest rate, which is currently 18%
  • There are no origination or renewal fees.
  • Loans are typically unsecured.
  • Personal guarantees are expected from each individual who owns 20% or more of the business.
To learn more about CreditSuite™ or to get to know your own Private Business Banker , contact our Private Business Banking Division to set up a meeting today, give us a call at  410-224-4475 or view a special multimedia presentation. (By the way, switching banks to BankAnnapolis is easy. We do all the work!) 
 
Check current business deposit rates.