Business Line of Credit
What is a Line of Credit?
A Business Line of Credit is a flexible financing option that provides businesses with access to a set amount of capital, which can be drawn upon as needed. Unlike a traditional loan, interest is only paid on the funds actually used, making it a cost-effective solution for managing cash flow, financing short-term needs, or dealing with unexpected expenses. The credit line replenishes as the borrowed amount is repaid, allowing continuous access to funds within the credit limit.
Minumum Requirements for a business line of credit
Obtaining a business line of credit typically requires a good credit score, a history of operational profitability, and, in some cases, collateral to secure the credit line.
Time in Business
6 month minimum
Get loan options from multiple lenders
Talk to a business loans specialist at:
Apply for a line of credit in as little as 10 minutes.
1. Complete your application
Answer a few question about your business and your personal loan preferences so we can match you to the lender offering the best rates and terms for your needs.
2. Speak to our underwriter
Meet your personal underwriter here to ensure we have all the documents and information we need to ensure we get you the best options for your business in the shortest amount of time.
3. Review your loan options
Check out the loan options available for your business, choose the one that makes the most sense for you at this time
4. Receive funds
Once you decide what works best, we'll have the capital in your account in less than 24 hours
Benefits of a business line of credit
Flexibility: Draw funds as needed, up to the credit limit, rather than receiving a lump sum all at once.
Cost-effective: Only pay interest on the amount you've actually borrowed, not on the entire credit line.
Revolving Access: As you repay borrowed funds, your available credit replenishes, allowing continual access to capital.
Cash Flow Management: It's an ideal tool for managing cash flow, addressing short-term funding needs, or handling unexpected expenses.
Why Use Lendtek for your SBA Loan?
$100M Funded to Small Businesses Throughout the US
75+ Lenders in our marketplace
5000+ Loans Funded over 9 years