Business Line of Credit
A flexible financing option that gives businesses access to a set amount of funds to draw from as needed, with interest charged only on the amount used. This revolving credit allows businesses to manage cash flow, cover unexpected expenses, and fund growth opportunities effectively.
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Quick Stats
Loan Amounts and Terms
- Borrow up to $100k
- Term up to 12 months
Repayment Schedule
- Usually monthly
- Repayments fixed monthly
Requirements
- Time in business > 1 year
Funding Time
- Within one business day of approval
How Does A Business Line of Credit Compare?
Line of Credit
Up to: $100k
Term: Up to 12 months
Repayment: Fixed monthly
Funding Time: Within 1 business day of approval
Requirements: Time in Business > 1 year
Pros: Reusable access to funds; Only borrow and pay interest on the amount of funds you use; build credit history
Cons: Harder to qualify for; Setup takes longer and may require documentation; more expensive if funds are kept for longer periods.
Up to: $500k
Term: up to 12 years
Repayment: Fixed monthly
Funding Time: Within 3 business days of approval
Requirements: Time in Business 2+ years
Pros: Predictable payment schedule; lower payments; potential early repayment
Cons: Lower yearly cost but higher overall cost; Stringent Eligibility Requirements; Potential slow funding time
Need help deciding?
How It Works
Our simple, three-step process makes getting the funding you need quick and easy.
Apply
Submit the easy online application within minutes and a Capital Specialist will call to discuss your funding request.
Get a Decision
You will receive your approval status after submitting all necessary documentation.
Receive Your Funds
You'll be able to draw on your line of credit within 1 day of offer acceptance. Your remaining funds can be easily accessed to manage expenses.
How to Use a Business Line of Credit?
Lines of credit can be used to manage cash flow, cover operational costs, or bridge financial gaps during slow periods. It's also a helpful tool for funding short-term projects or seizing unexpected business opportunities without the commitment of a long-term loan.
Cover Seasonal Expenses
Businesses with seasonal fluctuations in revenue can use a line of credit to manage cash flow during slower periods, ensuring they can meet payroll and other operational expenses.
Purchase Inventory in Bulk
Businesses can use a line of credit to buy inventory in bulk at a discount, allowing them to save on costs and improve profit margins without affecting cash reserves.
Fund Marketing Campaigns
A line of credit can provide the funds needed for short-term marketing campaigns, allowing businesses to promote new products or services and drive sales growth without a large upfront investment.
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