Revolving Line Of Credit
WHAT IS A BUSINESS LINE OF CREDIT?
A business line of credit is revolving funding option up to your maximum allotment. With a revolving line of credit, a business can pull needed working capital on demand and only pay interest on the used funds.
Some standard characteristics of business lines of credit:
- Adjustable amounts of working capital
- Acceptable for all business purposes
- Quick access to funds
- Interest only on used funds
HOW CAN YOUR BUSINESS USE A LINE OF CREDIT?
With most small businesses, access to fast and flexible working capital can be invaluable. Whether you are in need of funds to cover workflow gaps, demands for equipment upgrades, or purchase of new inventory, a line of credit can ensure funding is readily available at a moment’s notice.
Some typical reasons for obtaining a line of credit:
- Cash flow
Applications are typically proccessed same day and can be filled out in under 5 minutes. To apply, you need:
- 600 + Fico
- 6 months in business
- Annual Revenue of $100,000 +
- 3 months of business bank statements