Business Line of Credit

A business line of credit is a flexible financing option that allows you to access funds as you need them. Here are the key features and who it is for:

• Flexibility: Borrow up to a certain amount, or credit limit, to cover short-term working capital needs. Repay what you borrow and the credit line becomes available to use again
• Low interest rates: Lower interest rates than credit cards and no mandatory monthly payment system
• Access: Ongoing access to working capital for better cash flow management. Revolving credit line that allows you to access funds when needed and pay down the balance
• Most suited for: Ideal for businesses that need quick access to cash for unexpected expenses, seasonal fluctuations, or growth opportunities. Can be used for any business need, such as inventory purchases, payroll, or marketing initiatives
• Amount: Loan amount up to $250,000
• Term: Average term of up to 18 to 24 months
• No collateral: No collateral required in most cases

Business owners looking for a flexible financing solution that allows them to manage cash flow and access funds as needed should consider a business line of credit. This financing option is ideal for those who need to cover short-term working capital needs, and want the convenience of a revolving credit line that can be used when needed.