Lines of Credit

What is a Line of Credit?

A line of credit provides your business with revolving funds that can be used for expenses that are typically harder to borrow for. The benefit is, you only need to take what you need and pay for what you use! Once approved, most clients have access to their funds in as little as one business day. You can use this funding for working capital, investing, paying for business expenses, purchasing or leasing new equipment, and helping bridge cash flow gaps. A business line of credit is one of the best options on the market for short-term business needs. Interested in finding out more? Speak to one of our funding consultants today!

How does a Line of Credit work?

A business line of credit allows you to borrow up to a certain limit and only pay interest on the money you borrow. It is similar to the way a credit card works. You then repay the funds and can continue to draw on the line.

A line of credit is different from a traditional small-business loan where you receive a lump sum of capital and repay it over a specific period of time, with interest. A business line of credit is a more flexible form of financing. Business lines of credit can be used for a variety of short-term needs, such as managing cash flow, buying inventory, or covering payroll.