BUSINESS FINANCING
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REVOLVING LINE OF CREDITIf you need quick, ongoing access to cash for unexpected business expenses or seasonal changes in inventory or receivables, then Signia's Revolving Line of Credit may be right for you. A revolving line of credit is designed to assist companies' short-term financing requirements. It allows your business to borrow, repay, and borrow again up to the original amount committed by Signia, throughout the life of the loan. Revolving credits are repayable on an interest only basis with periodic lump sum repayments, which will in effect reduce the interest you pay. Interest rates are usually tied to the Prime Rate.
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TERM LOANIf your company is seeking to finance its long-term needs to maintain its competitiveness or even to increase its working capital, then Signia's Term Loan is ideal for you. Term loans are lump-sum disbursements with payback over a specified period of time (maximum of 15 years). This loan is usually repayable in blended monthly installments. Interest rates can "float" with the Prime Rate, or can be fixed. |
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SHORT TERM LOANIn business, eventualities do occur. Signia's short term loan is available to assist you. Interest is payable every month with the loan principle being repaid at the end of the loan period, usually 180 days.
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INSURANCE PREMIUMProtecting your business is essential. Signia's Insurance Premium Financing Plan offers your company the ability to obtain much needed insurance while, at the same time, deferring the high cost of premium payments. Premium financing avoids the pitfalls of investment opportunity loss, by allowing you to employ your capital for existing and future investments. Signia's Insurance Premium Financing Plan offers 100 percent premium financing with a repayment period of 9 months at a favourable interest rate. The security on the loan is the unearned premium (the amount due on cancellation). |
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LETTER OF GUARANTEEYour company may require a bonded warehouse from Customs or it may be bidding for a major contract for which a bank's guarantee is a requirement. A Letter of Guarantee serves as security to a supplier should you not meet your obligations. At Signia, we can issue a Letter of Guarantee to guarantee your obligations.
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