- Ideal for covering operating expenses especially when cash flow is irregular
- Extended to trusts, corporations, partnerships, sole proprietors, and companies purchasing real estate property for investment
- Periodic reviews will ensure that your credit line remains appropriate to your needs
- The interest rate is based on HSBC Base Rate and can be fixed or may fluctuate with market conditions
Overview of Revolving Credit
Revolving Credit is similar to a line of credit, with the difference being that Revolving Credit does not have a fixed repayment schedule.
You may draw down funds from your available balance at any time, and you can select to pay the interest monthly, quartely, semi-annually or annually.
What you should know before you apply
- A spread is added to the interest rate that reflects the risk, size, and the term of the loan
- Interest rates are based on the Bermuda Base Rate, US Prime or LIBOR
- A Commitment Fee or Arrangement Fee is charged and is dependent on the purpose, amount and term of thel loan
