A Business Line of Credit, unlike a traditional business loan, gives you access to a pool of capital to draw funds from whenever you need. So, whereas by a business loan you’d pay interest on the full loan amount for a fixed term, a business line of credit you’d only pay interest on the funds you withdraw until you decide to pay it back. A Business Line of Credit is smart for any business to have, in case they need to draw funds quickly for cash flow, working capital, or just about any business need.
$10,000 - $250,000
6 months – 12 Months
Time to Funds
1-2 Business Days
As low as 1.5% a month
What is a Business Line of Credit?
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Who Qualifies for a Business Line of Credit?
Most of our clients who have qualified for a business line of credit are in business for at least 1 year, have over 620 FICO scores, and annual revenue over $250,000.
What Documents are Needed for a Business Line of Credit?
To apply you’ll need to gather up several documents, including a loan application, driver’s license, voided check, previous 6 months bank statements.
How Much Does a Business Line of Credit Cost?
Business Lines of Credit usually cost around 1.5%-3% a month for an Unsecured Business Line of Credit, requiring no collateral or financials. Secured Lines of Credit would require financials and cost less than the Unsecured Line of Credit.