To make a purchase or investment, simply write an executive credit check and funds will automatically be advanced up to your approved credit limit. A monthly statement is mailed to the borrower showing a history of the activity on their credit line. Finance charges are determined by the outstanding balance and there is no cost if the line is not used. The foregoing statement is not an offer to enter into a loan agreement at a specified interest rate. An offer to enter into such an agreement may only be made pursuant to M.S. 47.206.
Interest rates are subject to change without notice.
Please contact the commercial lending department at First National Bank of Elk River if you would like further information regarding Executive Credit.