What is a Business Line of Credit?
The unique features of business lines of credit is that it “revolves.” Any principle paid towards drawn capital may be reused upon demand, giving any business must-needed flexibility, and you only need to pay interest back based on what you need and draw.
A business line of credit is cash deposited into your business bank account. Draw as needed to handle working capital, inventory, seasonal cash-flow gaps, or any other business emergency or opportunity.
Do I Need a Line of Credit?
Do you need for emergency reserves?
Do you regularly need to deploy capital while you wait for sales to occur or invoices to be paid?
There’s no business in the world that cannot benefit from having a Business Line of Credit available to them.
A Term Loan doesn’t match the needs of “working capital.” Even though term loans provide larger funded amounts, longer terms and lower rates, once it is used up, it is just debt, and prepayment may not free enough liquidity. A Business Line of Credit gives your business liquidity, and it’s flexible enough and generally large enough for your working capital needs.
Get Started in Minutes
First, provide basic information about your business. If approved, you can request funds from your online dashboard and receive them in your account in as fast as 24 hours.
Minimum Qualifications
650+ FICO score
- 24+ months in business
- $40,000 in monthly revenue
- Business is operating or incorporated in an eligible U.S. state
What is Needed to Apply
- Basic details about you and your business
- Bank connection or bank statements for past 3 months
- Business is in good standing
