[vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1/2″ css=”.vc_custom_1444995043702{margin-bottom: 35px !important;}”][vc_column_text]With business lines of credit up to $100,000 and APRs as low as 13.99%, this loan product is perfect for companies with at least 9 months in business and a minimum annual gross revenue of $75,000. A business line of credit works similar to a personal line of credit or a credit card.

By using a business line of credit, your business gets access to a specific amount of funds (any amount within your credit line). You can transfer the funds directly to your business checking account and only pay interest on the amount used. Furthermore, you can pay back the balance early without penalties.[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_single_image image=”70772″ img_size=”full” add_caption=”yes” onclick=”link_image”][/vc_column][/vc_row][vc_row type=”container” padding_top=”” padding_bottom=”” css=”.vc_custom_1444504142602{margin-bottom: 0px !important;}”][vc_column][vc_separator color=”#e2e2e2″ type=”normal” thickness=”1″ up=”” down=”” el_class=”dotted”][/vc_column][/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column][vc_column_text]

Why Should You Use a Business Line of Credit?

A business line of credit is a business loan intended to help small businesses meet their short-term cash needs. Getting a business line of credit grants access to an ongoing source of funds to help manage the daily operations of their company. Although, it sounds very similar to a regular business credit card, the main difference is that business lines of credit are typically cheaper than credit cards.[/vc_column_text][/vc_column][/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column][vc_tta_tabs style=”flat” active_section=”1″][vc_tta_section title=”Requirements” tab_id=”1444300654474-2bfb86dc-fd3a”][vc_column_text]Since business lines of credit are revolving accounts in the same sense of credit cards, the requirements are a little more flexible than regular loans. Please consider the following requirements for a business line of credit:

  • Your company should be in business at least 9 months.
  • Your business should have $75,000 in annual gross revenue.
  • A majority owner with at least 600+ personal credit score.

[/vc_column_text][/vc_tta_section][vc_tta_section title=”Rates and Fees” tab_id=”1444300654691-e081e086-5ad3″][vc_column_text]Your business line of credit amount and rate will be based on our assessment of your business overall financial health along with your business and personal credit. However, most rates range between 13.99% and 39.9% APR. Furthermore, there is a $20 monthly maintenance fee, which is waived for 6 months if you draw $5,000 or more in the first five days of opening your account.[/vc_column_text][/vc_tta_section][/vc_tta_tabs][/vc_column][/vc_row]