Business Line of Credit

A business line is a small-business loan that allows businesses flexibility in accessing funds. Funds are available at any time and not a set amount. This allows you to scale your business without worrying about any hiccups. These activities include machine repairs, inventory purchases, new opportunities, and closing the occasional cash flow gap.

A good credit score is essential for small businesses to get better terms on loans. You can maintain your credit score by making on-time payments and paying off your debts on a regular basis. A business line of credit may be the best option to achieve your business goals, depending on your financial situation.

For more information on how a business credit line can help you with working capital, please complete the 30 second application to speak with a business financing advisor.

Secured Business LOC:

Secured business credit allows your company to use any asset, typically real estate, to secure the line of credit. This is a good option for small businesses with bad credit history or who don’t have the time to run a business. A secured business credit line is a loan that the institution uses to pay a company if they default on their loan.

Unsecured Business LOC:

Unsecured business credit lines do not require collateral. This is similar to a credit card. A personal guarantee and lien may be required. These loans pose a greater risk to the lender. Your business must have strong credit scores and a track record of success. Unsecured business credit can have higher interest rates than secured because of the risk the lender takes.

For more information on how a secured business line of credit can benefit your company, please complete the 15-second application and speak to a business financing advisor.

Sometimes your business may need funds at the right time for its needs.

Small business owners can use a business line of credit as a tool to access funds to support their day-to-day business operations. A line of credit gives the business access to funds whenever they need them. This is one way companies can access capital to meet their short-term and long term financial needs as they pursue additional revenue-generating streams.

For more information about why you should always keep a business credit line available, please complete the 15-second application to speak with a business financing adviser.

A line of credit for business is different from a regular term loan. It provides cash for a specific amount of time, or over a set period. You can easily access a pre-established amount of money to use when you need it.

You can repay the loan amount and funds will continue to be available until you pay off your balance. The amount of money used at any given time is what is charged interest, not the entire amount. The lender will determine the repayment period for credit limits. The repayment period for credit limits varies depending on the lender. However, it is usually a weekly, monthly or periodic schedule that is established prior to the line of credit being granted.

Are you thinking that a business credit line might be right for your company? To learn more, please complete our 30 second application

Alternative lenders are known for offering the best available business credit lines. It is important to look for options that offer these features when searching for the best line of credit.

• Quick process (from funding application to funding).
• You have access to many lending options
• True revolving credit line – Access to additional funds after you have paid the line back
• Access to the line indefinitely to help with cash flow in times of need and emergency
• Get better rates and terms to meet your business’s needs

For more information about the best business credit options, please complete our quick application. To discuss your options with a business financing advisor, you can also speak with them directly.