Line of Credit Sweep
A Minnwest Line of Credit Sweep will link your working capital line with your checking account and provide your business with a convenient way to manage your cash flow. The Line of Credit Sweep will automatically advance or pay down your line of credit and reduce or eliminate excess idle balances and save your business money.
Transfer Funds Automatically to Maximize Earnings
Minnwest will work with you to determine a target balance in your checking account to cover daily activity and offset typical bank service charges through the Account Analysis. At the close of each business day when all transactions are accounted for, if the balance in the checking account is below the target established, an automatic advance from your line of credit will be transferred to bring the balance in the account back to the target. Likewise, if the balance in the checking account exceeds the target, the excess amount is automatically used to reduce the amount outstanding on your line of credit
Opportunity to Reduce Interest Expense