Physician business Line of Credit
As part of our commitment to help you meet your customers' expectations The Physician Business Line of Credit may be the ideal solution. As busy health professionals, your clients have a demanding schedule and don’t have time to remember to move funds to and from their operating account, so we do the work for them.
The Physician Business Line of Credit is available exclusively to self-employed physicians (incorporated or unincorporated) wanting to finance their current business operations.
The Physician Business Line of Credit has to be jointly owned with the Physician Business account held at the National Bank. Each time the Physician Business Account has insufficient funds, 5% of the authorized line of credit limit is automatically moved to cover the deficit in the operating account. If the operating account has a growing balance, the line of credit is automatically repaid in similar 5% increments.
The many benefits of the Physician business Line of Credit:
- Competitive rates
- No monthly fees
- Availability of the financing eliminates multiple credit requests
- Overdraft protection available
- Funds accessible at all times
- Life insurance available
According to the agreement the Bank has with your firm, this product might not be available.