Having additional access to working capital is always a best practice when running a small business. For the times you don’t want or need a large lump sum and the long-term commitments that come with a small business loan; or the times when a business credit card is just not the right choice for the health of your business, a business line of credit may be exactly what you need. With an expedited application process, affordable rates, and flexible repayment schedules (weekly or monthly), having reliable and continuous access to cash flow has never been simpler.
Stabilize Cash Flow
Have access to working capital reserves to manage daily operations or cover unexpected business expenses, even during your slow seasons.
Small Business loans require payment even if you aren’t using the cash; but with a business line of credit, you only pay for what you use.
Easy Access
Lines of credit have less stringent requirements than a term loan. Businesses can qualify with a 650+ personal FICO, and funds can be disbursed in as little as 24 hours.
Lines of credit are a revolving type of financing, meaning that businesses can pay off balances as they go and then use the credit again as needed.
Save Money
While the overall interest rate of a line of credit can be higher than a term loan, you only pay interest on the portion of the available money you use.
Credit card rates and fees can be astronomical, but rates associated with a line of credit are typically lower, starting at just 13%.
Increase Adaptability
Whether you’re facing a crisis or an opportunity, a line of credit gives you on-demand access to working capital to navigate almost any situation.
Business seasonality can cause a cash crunch during slow times. Lines of credit all you to balance cash flow off-season and keep your operations running smoothly.
