line of credit with chase

[zemz2005]

i applied for a line large line of credit for my boss ( $3 million plus) with the investment bank he uses. They quoted us a rate of libor + 1.5% with his securities as colateral.. I have no frame of referrence to know if this is a good deal. Is this competative or can i push for better?

[Airmont boy]

It might be a good deal for the price
However if you get another bank and not chase you will be better off
As chase is known for closing accounts quick
So in the end of the day you can't really rely on it for cash flow help