Lines of Credit

  • The line of credit is used to cover recurring operational needs and short-term working capital.

  • Revolving financing is a type of credit that allows users to borrow money as needed and then pay it back in periodic increments (usually at maturity with monthly interest). A portion of each payment made goes toward interest. The advantage is that it can be paid in monthly installments or in a single transaction.

  • To obtain information about your line of credit, please call the Commercial Support Center at 787.756.3939 or 1.855.756.3939; you can also visit one of our branches.

  • For FlexiLínea and B-Smart® accounts you can acquire the insurance provided by CHUBB Insurance3. Also, as a customer, you can provide your personal insurance.

  • Lines of credit are agreements to grant funds for a specific purpose (usually for temporary working capital), up to a predetermined amount whose maximum limit is in effect for the duration of the line. Lines of credit are activated at the customer’s request and require annual review. Their payment frequency is principal at maturity with monthly interest.

  • The only two accounts with a line of credit are the FlexiCuenta de Negocios® and the B-Smart ® accounts. However, there are lines of credit that are not tied to any specific account.

  • They are revolving lines of credit in the FlexiCuenta de Negocios® or B-Smart ® reserve module. Available quantities can vary from $5M to $250M, depending on the product. They provide businesses with a credit product that can be used easily and quickly, once approved. These lines of credit are activated to cover transactions in excess of the available balance in your checking account module. Another way to activate the line of credit is by using the special checks intended to activate it. Payment frequency in these line of credit products can be daily or monthly (principal) with monthly interest, and it is a revolving credit.

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