A business line of credit allows you the flexibility to draw funds when needed and only pay for what you use.
Our financing experts, underwriting, and closing teams ensure your application is processed efficiently with a higher likelihood of approval.
It takes just four minutes and some basic information to get started, and we’ll guide you through every step of your application from there.
Get an approval decision in as little as 24 hours and have your funds deposited within 24 to 48 hours after you accept your financing offer.
We'll help you determine your fit for a Line of Credit with complete transparency and work with you to secure the best rate and terms.
A business line of credit gives you access to a certain amount of money, which can be borrowed, repaid, and borrowed again (i.e., revolving credit).
A business line of credit is a highly flexible funding mechanism you can use regularly to float expenses.
Lenders’ financing requirements will vary, but the following are the minimum criteria.
A business line of credit allows you to borrow up to a specific limit and only pay interest on the money you borrow — similar to a credit card. When you repay the money you borrow, your credit line is replenished. Business lines of credit can be used for a variety of short-term needs, including paying for operational expenses, purchasing new equipment or upgrades, jump-starting growth initiatives, and covering cash flow gaps.
Any business that has regular, short-term expenses they need to or would like to float in order to smooth cash flow gaps would be fit for a line of credit.
A business line of credit is intended for large draws that may be paid back over several months. While you will pay interest on the entire draw amount, the cost may be lower than a business credit card. In contrast, a credit card is designed for day-to-day expenditures and typically requires a minimum monthly payment while your balance revolves. A business credit card often has other fees attached as well.
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