$1k - $500k
6 - 12 Months
1 - 2 Weeks
As Low as 8%
Flexible. The best word to describe a business line of credit. Often referred to as a safety net for your business, due to the fact you use it when you need it. Best of all you pay interest ONLY on the amount you use, not on the full credit line limit.
You can draw as much or as little as you need from your available business credit line. Your credit line automatically reloads as you make repayments. No interest is accumulated on the funds made available to you until you actually tap into it and use the funds. This feature makes it ideal for unforeseen situations that occur when running a business, because those happen often. It’s a part of being a business owner.
Similar, yet very diferent to a business credit card. Both are revolving and like a credit card you have a certain limit on a pool of capital, which can be accessed as needed. However, a credit card can only spend it as credit. A line of credit gives you access to hard cash with no penalties, while having lower interest rates. You can choose from weekly or monthly repayment options in accordance to which works best with your type of business.
Running a business is hard enough with unexpected turns at every corner, so don’t worry on having funds piled up in your business account accumulating interest. Let’s focus on business growth, new opportunities and making sure expenses are covered. Lines of credit can act as your silent investor always at your side, for your next business move. Use it to bridge gaps in cash-flow.
