What is Business Line of Credit?

A flexible credit line, usually with a bank or other financial institution, which can be used for any purpose up to the maximum balance. The unique feature is the revolving aspect, that any principle paid towards drawn capital, may be reused immediately, giving any business must-needed flexibility, and pay pay on what you draw.

A Business Line of Credit is as simple as cash deposited into your business bank account. Draw on your business line of credit to get more working capital, buy inventory, handle seasonal cash flow gaps or address almost any other business emergency or opportunity.

Is It for Me?

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 is a horrific method for working capital. Even though term loans provide larger amounts, longer terms and lower rates, once it is used up, it is just regular old debt and even prepayment will not get extra liquidity. A Business Line of Credit will give you business liquidity, flexible enough and just large enough for your working capital needs.

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Features of Business Line of Credit

All loans are not created equal – and a Business Line of Credit is considered the Gold Standard of loans.

Maximum Cash In Hand

$5,000 – $30,000,000

Loan Terms

Lines of credit can have Interest-Only payments for 12 months, or be amortized over 6-12 months, with No Prepayment Penalty (pay the principle and no longer be subject to interest)

Cost to Capital

It will vary greatly depending on how long funds are drawn for.

Speed

From as quickly as 10 minutes to 6 weeks.

Pros & Cons

Cons

Need to have an existing business

Personal Guarantee necessary - FICO will affect the rates

Slightly higher rates than a term loan

Looking for the best rates? It can take some time.

Pros

Pay interest only on drawn funds

As your business grows, credit limits will increase

Better FICO, better rates

Principle paid back may be drawn again

Unsecured and Secured options available

If you need funding immediately, funding can be arranging in minutes (not months).

What Do I Need to Qualify?

One-Page Application
3-6 most recent bank statements
Debt Schedule

In some cases, we may may be able to fund with a NO DOC line of credit with funding in minutes
Larger lines of credit are needed for FULL doc loan
And we have everything in between….

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Now apply for a Car Loan online, All you need to do is provide your details below application form.

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    What type of solution do you need? (choose any that apply)

    Unsecured Low Interest Credit LineSecured Business Credit LinePersonal Term LoanMortgage Investment - RE InvestorFlip & Fix Loan/Credit LineUnsecured Business Term LoanAdvance for Existing BusinessFactoring / Factoring Credit LineHigh Risk Merchant Account and ProcessingCredit RepairOther