[Danny_Ocean]

My "banker" (read: saleslady) is offering me a $50k line of credit secured by my sig & UCC. However, this will cost $250.00 for "closing costs" and $500.00 annually to keep the line open, whether I utilize the funds or not...? I understand a higher APR for using funds short-term (equipment purchases, cash-flow, etc.), but paying $500.00 just for the privilege of having $50k available?!?

Is this the norm? Where to find a better deal?

Thanks.