BUSINESS LINE OF CREDIT

What is a Business Line of Credit?

A business line of credit is a type of working capital. It's similar to a loan, but it doesn't have to be paid back in full at the end of the term. Instead, you can pay off only the amount that you borrow and use the rest for your business.

How much can I get?

The amount you can borrow depends on your business and personal finances. Your credit score will be considered, as well as your business's cash flow history. You'll also need to show that you have enough equity in your business to cover any outstanding debts from previous loans or lines of credits.

What are the benefits?

A line of credit helps you manage cash flow more easily than taking out a loan because you only pay back what you borrow and don't have to worry about interest charges or monthly payments during slow periods of business activity.

Pros:

  • Flexible borrowing 

  • Typically no collateral required 
     

Cons:

  • May have maintenance fee or withdrawal fee

  • Good credit and consistent revenue required 
     

Best for: 

  • Short term needs 

  • Seasonal business to manage cash flow

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Our 3 Step Process:

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1. Apply

Fill out our Quick Apply application.

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2. We review your application

We review your goals and present you with programs matching your needs, getting an offer in 24 hours.

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3. Receive funding

Choose the program that fits you best and receive funding within 48 hours.