Business Line of Credit
A business line of credit, also called a revolving line of credit, is a flexible loan option that operates similarly to a credit card. Borrowers can access funds, pay them back, and access them again as needed. You decide when and how to use the borrowed capital.
LOC DETAILS
Funding Amounts
$10,000 - $500,000
Our Fees
Draw fees 1% - 3%
Payment Terms
9 - 24 month terms (weekly/monthly)
Funding Time
24-hour decision and same week funds
What is a line of credit?
A business line of credit is a useful tool for businesses to have, regardless of cash flow, to take advantage of unexpected growth or expansion opportunities. It provides a flexible and often low-cost way to cover working capital needs in the short term. A small business line of credit ensures consistent access to funds to manage fluctuations in business expenses and revenues. Instead of a fixed amount of financing, a line of credit allows borrowers to access and repay a certain amount of money repeatedly.
Uses & Benefits
Scenarios where a business line of credit can be beneficial include: seasonal fluctuations, delayed client payments, needing capital for new client or production expenses, and purchasing discounted equipment or inventory.
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Gives you the flexibility to expand your business when opportunities arise.
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Offers the working capital you need to pay the bills during a slow period.
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Meets your financing needs without forcing you to pay interest on the money you’re not using.
