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Cash Management Services

Sweep Services

Solutions designed to help your company automate investment and/or borrowing functions to maximize investment earnings, minimize idle balances, and reduce interest expense while allowing you to maintain complete control of your liquidity needs at all times.

Loan Sweep

This automated service ensures that funds are borrowed from a Providence Line of Credit only when necessary, and the line of credit is paid down as soon as funds are available, reducing your interest expense. Payments to the line of credit have no minimums or increments. At the end of each day, your checking account is analyzed to determine whether you require funds to pay disbursements or whether the line of credit can be paid back with excess funds in the account. Since payments are automatic, your interest expense is kept to a minimum.

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