Enterprise Bank offers commercial lines of credit (LOC) that are specific to the working capital needs of your business. The line of credit could be either a formula based, if supported by accounts receivable and/or inventory, or non-formula based, if supported by real estate or other fixed asset or acceptable collateral.
In providing formula based revolving lines of credit, the Bank establishes a “formula” which defines a borrowing base under which the business borrower can advance funds for its short term working capital needs. This borrowing base provides line of credit borrowing capability up to a predetermined percentage of outstanding accounts receivable and inventory, allowing the business borrower to manage their draws and repayments on the revolving line within that borrowing base as its levels of accounts receivable and inventory change and up to a predetermined credit limit.
To find out more about accessing a line of credit with Enterprise Bank specific to your business needs, call (412) 487-6048. We will match you up with one of our experienced Relationship Managers, who will work with you closely on the line of credit structure and amount that will best fit you and your business.