Loan Sweep Service
Optimize your working capital.
Our line of credit sweep automates the process of moving funds between your Broadway Bank line of credit and designated checking account.
The benefits of Loan Sweep
- Reduce or eliminate overdrafts. When your accounts fall into a deficit, available funds from the line are swept to cover the shortfall.
- Reduce interest expense. With automated cash positioning, only the necessary funds are swept from the line. Additionally, excess funds are swept back to the line to pay down debt.
- Increase efficiencies. With automated sweeps, less staff time is spent managing your daily cash position.
How does Loan Sweep work?
- Specify a target balance, if desired, for your primary checking account.
- At the close of each business day, the bank will automatically cash position your checking account to include the stated target balance. Available funds are drawn against the line of credit to cover any shortfalls. Conversely, excess funds from the checking account are used to pay down any balance owed on the line of credit.
Contact Treasury Solutions
Contact our Treasury Solutions team today to see how you will benefit from modern banking that’s locally sourced and personally delivered.
Contact Treasury Solutions
Easy Solutions
With business operating accounts, payroll processing, credit cards, lines of credit and equipment loans, we have what it takes to move your business forward.3
Local Decision Making
As a regional, independent bank with deep ties in the community, our bankers have an understanding of this market and know how to position you for success.
Experienced Partner
Success lies between knowing you have the personal touch of a small bank paired with the expertise of a Wall Street titan. As the region’s largest and strongest independent bank you get the best of both.
