Business Lines of Credit

Provide your business with ready cash for short-term business funding needs – increasing inventory, providing seasonal cash flow or taking advantage of unexpected savings opportunities.

Choose Secured Line of Credit using your real estate as collateral or Unsecured Line of Credit.

  • Pay interest only on the outstanding balance each month.
  • Repay principal at your convenience until the end of the term.

Secured Line Of Credit

Property Type - Acceptable

  • Currently owned 1, 2, 3 or 4-unit properties
  • Condominiums or townhouses
  • Vacation homes
  • Doublewide mobile homes built after June 1976, on permanent foundation, title retired
  • 1-4 unit investment (rental) property
  • Agricultural properties
  • Mixed-use properties

Property Type - Unacceptable

  • Properties with cesspools, cisterns, spring water
  • Properties with gravity heat
  • Properties located in an industrial or commercially zoned area
  • Time-share properties
  • Singlewide mobile homes
  • Properties owned by a trust as identified on the deed
  • Properties with gas/oil well or coal mining

Collateral is required. This is an open-ended loan. Borrower may pay costs for third party verifications as necessary. LINES IN PERSONAL NAME(S): Borrow up to 80% of the appraised value, less any liens on the property being mortgaged. PSECU must be first or second lien holder. Minimum line amount $5,000. Interest only payment required monthly. There is a 10-year draw period. Check with a qualified tax advisor to determine if the interest may be tax deductible. LINES IN BUSINESS NAME: Borrow up to 80% of the appraised value on loan amounts from $5,000 to $100,000. Borrow up to 70% of the appraised value on loan amounts greater than $100,000. PSECU must be first lien holder. Minimum line amount $5,000. Interest only payment required monthly. Check with a qualified tax advisor to determine if the interest may be tax deductible.

Unsecured Line Of Credit

No collateral is required for this open-end loan. Minimum line amount $5,000. Maximum line amount $50,000. Interest only payment required monthly. There is a 10-year draw period.

Important Information About Business Lines Of Credit: For Sole Proprietors, the interest rate may vary monthly and the interest rate assigned may vary from 0 percent to 0.5 percent added to the prime rate as published in the Wall Street Journal on the last day of the month prior to the most recent full calendar month. For LLCs, Corporations, and Limited Partnerships, the interest rate may vary monthly and the interest rate assigned will vary from 0.5 percent to 1.5 percent added to the prime rate as published in the Wall Street Journal on the last day of the month prior to the most recent full calendar month. The maximum Annual Percentage Rate is 18 percent. The minimum Annual Percentage Rate is 3 percent.

PSECU requires a payment each month a payment is due. The due date for lines of credit is the 16th of the month. If you make your scheduled, current billed payment on or before the 16th of the month, the payment will be applied to the interest billed and due. If you make your payment as billed, on or before the 16th of the month, and, make any additional payments before the 1st of the next month, that amount will be applied to the principal balance on the line of credit. A payment will be due on the 16th of the next month for the interest due, as scheduled.

Business loans are available to businesses located within the State of Pennsylvania ONLY.