Business Loans, Financing, and Lines of Credit up to $5 Million
A Business line of credit is a type of small business loan that provides funding to draw from whenever you are in need of some capital. This type of funding allows you to access capital in order to handle cash flow gaps, buy inventory, and address emergencies or opportunities that may arise.
HOW IT WORKS?
The beauty of lines of credit is that you will only repay what you withdraw with an agreed upon interest rate and repayment term.
Bad credit is not a deterring favor and will in fact build your businesses credit along the way.
The downfall to this is that with a lower credit score comes higher interest rates. Younger businesses are able to qualify for short term lines of credit, medium term lines of credit are tailored more for businesses with good credit and a more solid financial history.
Flexible financing is important because mistakes and accidents happen within businesses that can otherwise set you back tremendously. One of the biggest advantages of having a business line of credit is its renew-ability.
Voided Business Check
Profit & Loss Statement
Business Tax Returns
Personal Tax Returns
Business Debt Schedule
- Interest Applied To Money Drawn
- Bad Credit Accpeted
- Great Way To Build Credit
- Wide Range of Business Purposes Accepted
- Capital Is Readily Available
- Lengthy Paperwork
- High Rates on Low Credit Scores
- May Require Collateral
Much like a credit card, you are able to draw funds, pay then back with its interest, and draw again. The flexibility of a line of credit is a valuable asset for a small business owner because it is a safety net for unforeseen obstacles and an extra advantage for opportunities.