A business line of credit offers funding only when your business needs it. Upon approval, you simply draw on your account as the need for capital arises – whether that occurs tomorrow, next week, or next month. Payment towards your line of credit is only required when the credit line is actively drawn upon. For instance, even upon approval and funding, your balance will remain at zero until you start making withdrawals. At that time, you can choose to make payments weekly or monthly. A business line of credit will also help improve the creditworthiness of your business as providers report repayments back to credit bureaus over time. Common uses for a business line of credit include managing overall cash flow, supporting accounts receivable, inventory management, purchasing inventory at a discount, working capital, and buying equipment.
We offer different types of business credit lines. The approval amount on our quick-turnaround lines will be determinant of the overall health of your business, and credit scores may not equate to much of a factor. We can provide 24-hour turnaround and get you a credit limit approved up to $200,000.