How Can a Business Line of Credit be Used?
Businesses don’t come in a one-size-fits-all mold, and neither do their financing needs.
A business line of credit is one of the most flexible small business loans available and can be used for nearly any business purpose at your discretion. It’s a great option for those that want to have access to working capital on short notice; plus there is no cost to apply, no UCC filings and no fees are incurred until money is actually drawn against the line.
Let’s say that you apply for a business line of credit and qualify for a business loan anywhere from $2,000 up to as much as $100,000. You still pay nothing – unless you actually take money out. Draw out only the amount you need or want to finance, and pay financing fees on only what you withdraw over the term of the loan. Fees vary, and you can save money by repaying early.
Not ready to apply or not sure which business financing solution is right for your organization? We can help –
Request a quick quote and we will answer any questions you might have, walk you through the application process and give you the information you need to choose the financing option that would be best for your business.