A Line of Credit Sweep helps you effectively manage your cash flow. With a Line of Credit Sweep funds are automatically pulled from an approved Line of Credit and deposited into the checking account to cover disbursements as they post. Excess funds in the checking account, not needed for disbursements, are then automatically swept over to pay down the Line of Credit.
Avoid overdrafts and reduce interest expense with a Line of Credit Sweep.
Benefits:
- Efficiently manage liquidity
- Reduce interest expense
- Save time associated with manual transfers
- Avoid overdrafts
