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Line of Credit Sweep

A smart way to manage your company's cash _ automatically.

What is a Line of Credit Sweep?

With our Line of Credit Sweep, your company's cash automatically goes where it benefits you most _ to pay down your line of credit or replenish your checking account.

How does it work?

Simply establish a target balance for your checking account. Then, on a daily basis, funds above that target are "swept" in pre-determined increments into your line of credit account to pay down your balance and minimize interest expenses. Or, if your checking account balance falls below the target, funds are automatically drawn from your line of credit to refill your checking account. It's cash management made easy!

Why would I use it?

Our Line of Credit Sweep is for any business that wants to keep its money working to either pay bills or lower interest paid on the line of credit.

How your Company benefits.

  • Reduced interest expenses.
  • A way to keep your money working at all times.
  • Simpler cash management and Online Cash Management.
  • Freedom from the hassles of daily transfers of money between accounts.

Additional benefits:

  • Keep your companyís cash working for you with our Line of Sweep services.
  • Make cash management even easier by paying bills and collecting funds electronically with ACH Origination.
  • Enjoy all the advantages of a North Shore Bank's Business Credit Card. Apply online or call 1-800-892-3263 any day between 7:00am and 11:00pm CST and reference priority code FRL9.
 

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