Business Overdraft Protection Services
The smart strategy for dealing with unexpected expenses
Whether you're a startup or an established company, First American Bank is invested in your business plan.
Fast access to funds can keep your cash flow strong
As a business owner, your financial needs change daily. That's why First American Bank offers business overdraft protection services that are linked to your business checking account. When you're faced with emergency repairs, inventory shortages or other unanticipated commercial expenses, you can quickly access extra funds to keep everything running smoothly, whether your business is in Illinois, Wisconsin, Florida or beyond.
Business Check Credit
- Loan size $2,500
- Funds will be added to your First American Bank business checking account in increments of $500
- Minimum payment automatically deducted from your business checking account
- Variable interest rate of WSJ Prime plus 17%
- Low $50 annual fee
- No advance fees
Business Reserve Line of Credit
- Qualified businesses that have been open for at least two years are eligible for lines of $2,501 to $5,000
- Funds will be added to your First American Bank business checking account in increments of $500
- Minimum payment automatically deducted from your business checking account
- Variable interest rate of WSJ Prime plus 15%
- Low $50 annual fee
- No advance fees
Disclosures
Subject to credit approval. Not available for Money Service Businesses. A personal guaranty is required. (For Business Check Credit the guarantor must have a personal or business deposit relationship for a minimum of 12 months with an average balance of $2,000 or more.) Minimum payment of 5% of the principal balance owed as of the statement date, or $100, whichever is greater. Late charge 5% of the payment or $25, whichever is greater.
