Quote:
Originally Posted by calgarygeologist
I wasn't able to easily find a thread on lines of credit so I figure I'll just post my question in here instead of starting a new thread. What is a good current rate for a secured line of credit? I spoke with a manager at a bank that my company is affiliated with and they are offering us employees prime plus 0.5%. Is this a good rate? Should I shop around for better?
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Cant speak for smaller lenders but all the big banks are posted at P + .5%. Sort of the standard, and not much wiggle room. Usually they wont negotiate that. However, its possible you might be able to get P or P +.25%.