Hume Bank Business Line of Credit - Residentially Secured
Line of creditSecured
A line of credit means you can access and draw on funds at any time, repay as much or as little as you like (as long as you cover the interest, fees & charges each month) until the end of loan term.
- Establishment fee
- Not published
- Monthly fee
- Not published
- Borrow
- From $20,000
Interest rate a year, from
Not published
Loan details
Rates
- Interest rate (a year)
- On application
- Rate type
- Not published
- Security
- Secured
- Type of finance
- Line of credit
Limits and fees
- Loan amount
- From $20,000
- Loan term
- Not published
- Establishment fee
- Not published
- Monthly fee
- Not published
Pros and cons
Pros
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
Cons
- Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.