Prospera Credit Union Commercial Home Equity Line of Credit
Loan
Description:
A commercial home equity line of credit operates similarly to a commercial line of credit, with the distinction that the borrowed funds are secured by the borrower’s home.
Comments on Funding:
Funding takes the form of a line of credit:
– Borrow up to 75% of your equity in your principal residence;
– Variable interest rate;
– Access online, by phone, or in branch;
– Optional life and disability insurance.
Continuous Intake
Eligibility:
Applicants must be:
1. businesses;
2. Prospera Credit Union members.
Application Steps:
Applicants must apply online or talk to an advisor.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Canada to identify and maximize funding to grow their business.
