7% - 25%
Good credit building skill
Only pay interest on funds used
Quick and easy access to capital
Used for any purpose
Bad credit is acceptable
6 Months - 5 Years
Lender can close line of credit at any time
Higher interest rates for bad credit
TIME IN BUSINESS
6 Months Minimum
What Documents Will I Need To Apply?
Applying Does Not Affect Your Credit!
Disclaimer: The above information is provided as a guideline. Some loan conditions may fall outside of these parameters. We recommend that you speak with one of our advisors before taking any course of action based on this information.
WHAT IS A BUSINESS LINE OF CREDIT?
A flexible credit line, usually with a bank or other financial institution, which can be used for any purpose up to the maximum loan balance. Not to be confused with business credit cards, business lines of credit often have lower interest rates, fewer fees and more flexible payment options while still giving you access to cash.
A Business Line of Credit works much like a cash advance from a credit card with a little added complexity thrown in. Draw on your business line of credit to get more working capital, buy inventory, handle seasonal cash flow gaps, pay off other debts or address almost any other business emergency or opportunity.
As Little As 24 Hours
10,000 - 1,000,000
Pros & Cons
What sorts of businesses are eligible for this flexible financing?
Younger, less established businesses might be able to qualify for short-term lines of credit, while medium-term lines of credit are more for businesses with good credit and a solid financial history.
The maximum amount of funding available, introductory duration of the credit line and repayment terms depend on your business’s revenues, credit rating, history and other factors.
Most Businesses Who Qualified Had:
Voided Business Check
Profit and Loss Statements
Business Tax Return
Personal Tax Return
Business Debt Schedule