Need Line of Equity on Commercial Property Owned Free and Clear

[Sam Amir]

Hi,

I'm looking for some financing on a 6 unit multifamily we own free and clear here in Chicago. The building is worth about $650k and we need a line upto $350k. I've been told that a bank will only loan a HELOC up to a max of $250k so I should take the HELOC at $250k and refinance for the rest, but I'm looking for some sort of financing vehicle that will allow me to have a line we can withdraw only as needed. If anyone can help with this or point me in the right direction it would be greatly appreciated.

Thanks,

Sam