Meridian ’s Revolving Line of Credit is designed to support your business’s daily banking activities, assist with your business' short-term financing needs and protect your business against unexpected expenses. This variable rate credit facility is tied to Prime and is connected directly to your Business Chequing Account.

Key Business Benefits

• Only pay interest on the actual dollar amounts that are borrowed
• Deposits made to your Meridian Business Chequing Account are credited directly to the outstanding balance on your Revolving Line of Credit, thereby reducing the amount of interest you pay monthly. Competitive floating interest rate tied to Meridian’s prime lending rate
• Once the line of credit amount is approved and set up on your Business Chequing Account, funds can be accessed immediately for whatever amount you require (within the approved limit) – no need to contact us when you need the funds
• Spend less time monitoring your daily cash flow

Key Features

• Interest is calculated on the closing daily balance and charged at the end of the month
• Credit limits are based on your business’ borrowing needs
• Access your Line of Credit by writing a cheque against your Business Chequing Account, through on-line or Telephone Banking
• A monthly statement provides a consolidated view of your account activity for ease of record-keeping

Ask the Experts

To find out more, contact or visit your local Meridian branch or call our Quality Contact Centre at 1-866-592-2226.