Minnwest Bank

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.

How Does It Work?

Transfer Funds Automatically to Maximize EarningsLine-of-Credit-Sweep-Graphic

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

Is It Right For My Business?

Opportunity to Reduce Interest Expense

  • Businesses with idle cash balances that can be used to reduce average borrowings.
  • Businesses that don't have the time or staff to actively manage day to day borrowing activity.
  • Prior approval necessary for any Business with a revolving line of credit. Consult with your relationship manager for details

Benefits & Features

  • Transfers to and from your revolving line of credit are automatic at the end of the day.
  • Daily activity can be monitored through Business Online Banking.
  • May be integrated with Minnwest Investment Sweeps and related Zero Balance Accounts.
  • Enjoy the ease and convenience of managing daily working capital needs.
  • Convenience of preventing overdrafts on your account and related service charges.
  • By linking a Line of Credit Sweep and an Investment Sweep, your business can minimize interest expense paid, and maximize interest income earned on idle balances.

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