Financing facilities for working capital that can be renewed against a bank guarantee. Credit limits are set each year and partial disbursements are made, as needed.
- An approved line of credit made available for an entire year.
- This is partially disbursed until the pre-approved credit limit is reached. More credit becomes available as the borrowed funds are repaid.
- This line of credit together with its maximum approved amount is reviewed and renewed each year.
- A term of up to 180 days for paying monthly interest accruals as well as the amount of principal outstanding, whether on a monthly basis or when this line of credit expires, as the client should so wish.
- This line of credit is disbursed by means of promissory notes.
¿How can I obtain these lines of credit?
- Financial statements or tax returns
- Personal sureties or combinations of corporate and personal sureties
- Life insurance for the business owner(s) or guarantor(s)
- Subject to the Bank´s approval
For more information please call our Help Line: (507) 321 0101, or visit one of our nationwide branch offices.