Automated Loan Sweep



Use idle funds to pay down outstanding loans.

Our automated loan sweep is an efficient and cost effective cash management system that allows businesses to closely monitor the use of their commercial line of credit. This service provides the convenience of automated access to your LOC and eliminates the guess work for advances and principal payments, without manual intervention.

Features and Benefits:

  • Greater control over disbursements, eliminates idle balances in your depository account.
  • Reduce interest expense - loan advances are drawn only when needed and repaid as soon as funds are available.
  • Sweep transactions may be monitored on Business Online Banking.

How It Works:

  • Each day, the bank posts deposits, withdrawals, transfers, service fees and other transactions to the primary checking account.
  • If remaining funds exceed the target balance, the excess funds are applied as a payment against the line of credit.
  • If the checking account balance drops below the target balance, the Sweep will automatically advance funds from the line of credit.

For more information about these Cash Management services, please contact 800-272-1876.