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Lines of Credit for Businesses

A business line of credit can help manage short-term working capital needs such as seasonal purchases, payroll, or inventory. Variable interest rate line lets you borrow, repay, and borrow again – when you need it.

  • Company Payroll Card
    Cover short-term working capital expenses such as making company payroll
  • Pay Operating Expense Card 1
    Pay operating expenses while waiting to collect on accounts receivable
  • Advantage of Discounts Card 2
    Purchase inventory or supplies in bulk to take advantage of discounts

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Important Info About Opening a Business Account for a Legal Entity

Membership Eligibility

Businesses located in Albany, Columbia, Dutchess, Greene, Orange, Putnam, Rensselaer, Rockland, Saratoga, Schenectady, Ulster, or Westchester Counties that have an HVCU business account are eligible to apply for business loans. Eligible businesses include: Sole Proprietorship/DBA (Doing Business As), Corporation, Subchapter “S” Corporation, Limited Liability Company (LLC), Partnership, and Limited Liability Partnership (LLP). Businesses are also required to be in operation for more than two years.

Businesses that have been in operation for less than two years may qualify for a loan through the United States Small Business Administration (SBA). HVCU is a certified lender for the SBA 7(a) Loan Guaranty Program and SBA Express Loans. Getting an SBA guarantee can make it easier for newer businesses to get funding.