What is Business Line of Credit?

The unique features of business lines of credit is that it “revolves.” Any principle paid towards drawn capital may be reused upon demand, giving any business must-needed flexibility, and you only need to pay interest back based on what you need and draw.

A traditional Business Line of Credit is simply cash deposited into your business bank account. Draw on your business line of credit to get more working capital, buy inventory, handle seasonal cash flow gaps or address almost any other business emergency or opportunity.

A Business Line of Credit is as simple as cash deposited into your business bank account. Draw on your business line of credit to get more working capital, buy inventory, handle seasonal cash flow gaps or address almost any other business emergency or opportunity.

Is It for Me?

Do you need for emergency reserves?

Do you regularly need to deploy capital while you wait for sales to occur or invoices to be paid?

There’s no business in the world that cannot benefit from having a Business Line of Credit available to them.

Term loans are not the optimum working capital financing solution. While term products may provide larger amounts with longer terms and lower rates, once it is used up, there’s no increases, and even prepayment will not infuse extra capital. A Business Line of Credit will give you business liquidity, flexible enough and just large enough for your working capital needs.

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Features of Business Line of Credit

All loans are not created equal – and a Business Line of Credit is considered the Gold Standard of loans.

Maximum Cash In Hand

$5,000 – $30,000,000

Loan Terms

Lines of credit can have Interest-Only payments for 12 months, or be amortized over 6-12 months, with No Prepayment Penalty (pay the principle and no longer be subject to interest)

Cost to Capital

It will vary greatly depending on how long funds are drawn for.

Speed

From as quickly as 10 minutes to 6 weeks.

Cons

Need to have an existing business

Personal Guarantee necessary - FICO will affect the rates

Slightly higher rates than a term loan

Looking for the best rates? It can take some time.

Pros

Pay interest only on drawn funds

As your business grows, credit limits will increase

Better FICO, better rates

Principle paid back may be drawn again

Unsecured and Secured options available

If you need funding immediately, funding can be arranging in minutes (not months).

What Do I Need to Qualify?

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Business Line of Credit

4.49% - 24%