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.
We are receiving an extraordinary volume of calls, which is affecting our waiting times. We appreciate your understanding and your trust in us.
Call us at 787.724.3659787.724.3659 or Access Mi Banco Online (desktop version), log in by entering your username and password, and in the upper part of the website click on “Contact Us”. From there, write your message, and we will gladly assist you.
We encourage you to consult the following information regarding useful and accessible solutions for you.
FDIC Member. Products and services offered by Banco Popular de Puerto Rico.
1Withdrawals are subject to the availability of funds in your account.
2Deposits are subject to the provisions of the Bank’s Funds Availability Policy. Easy Deposit Mobile is a free service and only for Banco Popular customers with individual deposit accounts and/or commercial accounts (FlexiCuenta de Negocios® & B-Smart®). Customers selected in accordance with the Bank’s eligibility criteria. Checks deposited before 6:00 p.m. of a business day will be processed the same business day, subject to verification and deposit validation. In the back of the check to be deposited, enter your signature, account number and the phrase “For Deposit Only at BPPR.”
3Insurance is underwritten by Chubb Insurance Company of Puerto Rico. Insurance products are offered by Popular Insurance LLC, a subsidiary of Popular, Inc. and an affiliate of Banco Popular. Popular Insurance LLC is duly authorized by the Office of the Insurance Commissioner of Puerto Rico to offer and transact insurance products and has been appointed by Chubb Insurance Company as its Authorized Representative. Popular, Inc. and Banco Popular de Puerto Rico do not offer, underwrite or issue insurance products. Chubb and Popular Insurance LLC, Popular Inc. or Banco Popular de Puerto Rico are not affiliates. Obtaining this insurance is optional and it may be canceled at any time. Banco Popular de Puerto Rico will not condition the credit decision upon the purchase of this insurance or your agreement not to obtain such insurance from an unaffiliated entity. Insurance products are not insured by the FDIC, or other government agencies; are not deposits or obligations of, nor are guaranteed by Banco Popular de Puerto Rico its subsidiaries and/or affiliates. Certain limitations, exclusions and conditions apply. For more information, refer to the Certificate of Insurance.
