Commercial Line of Credit

Maspeth Federal Savings offers a Commercial Line of Credit to our customers holding non-residential (including dwellings 5 family or more), mixed use and commercial mortgages.

Proceeds from your line of credit can be used for:

  • Purchasing new equipment
  • Building renovations
  • Improving cash flow
  • Unexpected business expenses
  • Upgrading equipment
  • Plus much more

Highlights Include:

  • A maximum line of credit up to $500,000
  • Line of credit can remain open for up to 5 years
  • Accessing your line of credit is as easy as writing a check ($2,000.00 minimum withdrawal required)
  • No prepayment penalties
  • Interest may be tax deductible
  • Renewal may be available at the end of the term