Less paper, less cost, more cash flow.
In every business there comes a time when extra financial resources may be needed. This discretionary revolving line is designed to provide licensed businesses in the USVI and BVI the ability to meet seasonal and short-term financing needs with ease and convenience.
Your Line of Credit:
May be used as overdraft protection for your Commercial Checking Account
Offers a variable interest rate tied to the JP Morgan Chase Bank Prime Rate or other common indices
May be secured by cash or equivalents, real estate, inventory, accounts receivable or other business assets
Charges interest on the portion of the line that is actually used
Includes legal and filing fees that vary depending on the size of credit and collateral
Includes a commitment fee payable upon approval
To apply, you will need:
A completed application (available at the locations listed below)
Signed copies of the business’ last three annual tax returns and financial statements
A personal financial statement from each owner, validated within the last 90 days
Your current business plan (for new businesses), along with a listing of the collateral to be pledged for the loan
Applications can be obtained at:
St. Thomas: Waterfront Financial Center
St. John: Cruz Bay Branch
St. Croix: Orange Grove Financial Center
British Virgin Islands: Roadtown Financial Center