Line Of Credit

Every small business looks for an ideal solution when it comes to managing the uneven cash flow. If you are in need of money and flexible terms to be able to pay back borrowed funds, an unsecured line of credit can work to your advantage.

A small business line of credit has a lot in common with a small business credit card. An unsecured line of credit, like a small business loan, provides a business with ready access to funds that you can use to deal with any business expense that arises. However, there is no lump-sum payment that’s made when opening an account requiring a subsequent payment each month.

Any business owner who has experienced a cash flow problem can opt for a small business line of credit. Business lines of credit give you the capacity to tackle emergencies as well as opportunities. If offers you the peace of mind and security you need for managing your cash flow better.

It’s important for your company to meet certain requirements concerning annual revenue, personal credit score, and time in business.

You’re likely to qualify for a small business line of credit, if you:

  • Have a business operating for more than a year
  • Have a credit score of over 560
  • Have an annual revenue of over $150k

Companies with less than 2 years in operation are likely to quality for short-term unsecured business lines of credit. On the other hand, those businesses that have been around for over two years are eligible for long-term lines of credit. The more established your business is, the easier it becomes for you to qualify for any program.

  • Inventory Financing
  • Working Capital
  • Equipment Funding

It can help entrepreneurs to maintain a consistent supply of funds so they can cope with recurring expenses. Also, this practical solution allows them to manage the ebb and flow of seasonal changes in business.

If you want to apply for a line of credit, a reliable online lender or a traditional bank can help you obtain an LOC. You must know that banks have an extensive screening and application process. Online lenders rely on a streamlined process that provides you with funds the same day.

Looking to grow your business with a small business line of credit?Apply Now!

Fast Business Funding $50k to $10M

Apply Now