Up to $750,000 Preferred Lender Business Credit Line: Get money as it is needed. A line of credit for a business is a revolving loan that provides ready access to a certain amount of capital for occasional, short-term financing needs. This form of loan is ideal for filling temporary funding gaps caused by the need to pay for regular business expenses. Just like most things in life, you only have to pay for what you consume. Payment terms are 6 months at 6% interest, or 12 months at 12% interest (Updated rates for a limited time only.)
Both unsecured and guaranteed credit lines
Both secured and unsecured lines of credit are available for businesses looking to expand their financing options.
With an unsecured LOC, you don’t have to worry about putting up any collateral, thus getting approved is much quicker.
Secured LOCs, on the other hand, allow you to borrow more because your assets serve as collateral. Most small business owners would rather have an unsecured line of credit than a secured one. * Borrow between $20,000 to $750,000. Funding available in all 50 states with terms between 6 months and 5 years and a minimum credit score of 650 There are prepayment bonuses available for all commercial lines of credit. If your firm has been open for at least three years,* you may qualify for a credit line even if your credit score is below 650. A company line of credit allows you to borrow money as needed, reduce the debt, and then borrow more money as soon as the line’s revolving funds reach a certain threshold.