Lines of Credit
A line of credit is like a rainy-day fund—for any kind of weather. In a nutshell, it’s money on demand you can count on for a planned expense like a home renovation, a business opportunity, or an unexpected cost that can't wait.
Here’s how it works: We agree on a preset amount to lend you. You can take money out of your line of credit anytime, up to the maximum amount. Of course, you’ll pay a low interest rate on the money you borrow—but only on the amount you borrow.
Best of all, a line of credit is flexible and renewable. Flexible: You can withdraw any amount, anytime, and pay it back in installments of any amount above the monthly minimum. Renewable: After you repay the money, you can borrow it again, over and over.
Lines of Credit for Every Need:
Home Equity Line of Credit
Home is where the heart is, and it’s also where you’ll find serious purchasing power. With a home equity line of credit, you can borrow against your home for pretty much whatever you want, whenever you want.
Securities Based Line of Credit
Your investments work hard, so why not let them work even harder? With a securities based line of credit, you can tap into your portfolio's value for personal or business needs without selling a single share.
ChekCredit
We’ve got you covered. With a ChekCredit overdraft protection line of credit, we’ll cover the difference if there’s not enough money in your checking or debit account for a withdrawal or payment. Available in lines of credit from $500-$5,000.
Advantage Line
The ultimate in flexibility, accessibility and renewal-ability. While renewal-ability may not be a real word, access to a revolving, flexible cash flow is very real and a sweet deal. Available in lines of credit from $5,000-$25,000.
How do I apply for a line of credit
You can apply for a Home Equity Line of Credit online here, or call your local branch for information on loan rates, offers and how to begin the application process.
To apply for a ChekCredit or Advantage line, please visit your local branch or get started by filling out this form.
To learn more or apply for a Securities Based Line of Credit, complete this form and on of our specialty lenders will reach out to you shortly.
Where can I make a payment on my loan or line of credit?
Payment options include the following FREE payment methods:
- Pay in person at any of our branches.
- Mail payments to: P.O. Box 628 Olean, NY 14760.
- Pay online through your online banking account that came with your loan.
- If you have a CBNA deposit account with us, you can utilize our bill pay service. Learn more here.
- If you have a CBNA deposit account with us, you can set up a one time or reoccurring transfers from your deposit account to your loan.
- If you only have a loan with us, you can set up bank to bank transfers from your primary bank.
- Don’t have your online account set up yet? You can get started by clicking here, or visiting cbna.com and clicking “Enroll” in the login box.
- Set up bill pay from your primary bank's online banking platform.
Additional payment options are available, but convenience fees may apply.
What is a variable rate?
This is an interest rate that changes over time because it is based on an index. This means that payments may increase or decrease depending on the change in rate.
What is a repayment period?
A repayment period is the period of time in which you make payments (principal plus interest) toward the balance owed.
What is a draw period?
This is the period of time in which you can access the funds available in your line of credit.
Liquidity for your long-term vision
Securities-Based Line of Credit
An SBLOC isa powerful tool. Fund real estate investments, manage larger tax bills, or cover bridge financing to keep your professional life moving forward.
CBNA Credit Companion℠
Stay on top of your credit score
This free service lets you view your credit report and score any time you log in to your account, without affecting your credit score.
Loan Options
Put your home’s equity to work
Home equity loans and lines of credit are a smart way to pay for major home improvements, renovations and upgrades.