Put your personal assets to work for your small business.
Leveraging your home's value for your business can be a capital idea.
If you need to invest in your existing small business, you may not have to look far to find working capital. Your home can serve as collateral for a line of credit that can cover a wide range of business costs, from facilities renovations to equipment upgrades. Loan amount is determined by the equity you have in your property. Use our HELOC calculator to calculate how much equity you can access.
- Attractive interest rates.
- Affordable monthly payments. Pay interest charges only, or a small percentage of the loan balance.
- Easy access to funds through Online and Mobile Banking*, and at South Carolina Federal Credit Union financial centers.
Business Home Equity Line of Credit vs. Business Loan
When choosing between a business home equity line of credit and a business loan, it's important to understand the key differences between the two.
A Business HELOC (also known as a Business Real Estate Secured Line of Credit) may come with lower rates than a traditional commercial loan. Your home is used as collateral, as opposed to a standard business loan, which is typically secured by business assets or is unsecured.
With a line of credit, you can draw and repay funds as needed during a set window of time. You are only charged interest on the funds that you use.
With a business loan, you are given a single lump sum of money which is paid back with interest over an agreed-upon length of time.
