Business Line of Credit in Salt Lake City, Utah & Surrounding Areas
Put your company’s assets to work for you and gain the flexibility and liquidity needed to grow!
When your company needs short-term funding or quick cash, you may apply for a business line of credit. You can use this lending tool to fund large, one-time purchases or day-to-day expenses, such as inventory purchases, operating expenses and occasional needs for extra cash on hand.
This product is available at First Utah Bank. Our business revolving line of credit is an excellent way to manage your company’s short-term cash flow needs. With a line of credit from First Utah Bank, you are pre-authorized to borrow up to a specified amount subject to eligible collateral. Typically a line of credit is secured by business assets and may be accessed whenever your business needs cash. Your loan only accrues interest on the amount that you have advanced and there is no penalty for paying down the principal balance to reduce your interest expense.
Entrepreneurs and businesses around Salt Lake City need not look far for a lending solution. Our line of credit is a secure and reliable way for you to get short-term funding for your business.
A First Utah Bank business revolving line of credit is an excellent way to manage your company’s short-term cash flow needs. With a line of credit from First Utah Bank, you are pre-authorized to borrow up to a specified amount subject to eligible collateral. Typically a line of credit is secured by business assets and may be accessed whenever your business needs cash. Your loan only accrues interest on the amount that you have advanced and there is no penalty for paying down the principal balance to reduce your interest expense.
Typical Line of Credit Uses:
- Improving cash flow, funding payroll, or seasonal working capital
- Purchasing inventory or materials
- Financing accounts receivable
- Unplanned Events
Typical Line of Credit Collateral:
- Accounts receivable
- Inventory
- Equipment (subject to limitations)
- Unsecured (available only if certain credit conditions are met)
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Have a question about our business line of credit? Please complete the form below to send your inquiry to our Commercial Loan team. You’ll hear back from us right away.