Loan program

Business Line of Credit

Flexible revolving credit designed for businesses that need working capital on demand. Draw what you need, pay interest only on what you use, and repay to access again. A business line of credit provides revolving capital access. Unlike term loans offering lump sums, this product lets borrowers draw only required amounts. Interest accrues solely on drawn funds, not total limits. Repayment replenishes available credit throughout the term.

  • Credit limits: $25,000 to $500,000 (typical range)
  • Terms: 6 to 24 months typical; some lenders offer renewal options
  • APR typically ranges from 12% to 45% depending on risk profile
  • Weekly or monthly interest payments with varying minimum schedules
  • Access funds immediately via ACH transfer, typically within 1 business day
  • Origination, draw, and maintenance fees disclosed upfront
  • Minimum 6 months in business (12+ months preferred)
  • Minimum monthly revenue of $10,000
  • Personal credit score of 600+ required

Best Use Cases

  • Seasonal cash flow gaps
  • Project-based expenses
  • Inventory purchases
  • Emergency expenses
  • Marketing campaigns

Qualification Requirements

Minimum Criteria:

  • At least 6 months in business (12+ months preferred)
  • Minimum monthly revenue of $10,000
  • Personal credit score of 600+
  • No active bankruptcies or tax liens
  • Bank statements showing consistent cash flow

Documentation Needed:

  • 3–6 months of business bank statements
  • Driver's license or ID
  • Voided business check or bank account details
  • Business formation documents (if applicable)

Advantages

  • Pay interest only on drawn amounts
  • Revolving access throughout term
  • Fast approval and funding
  • No collateral required (many cases)
  • Builds business credit when used responsibly

Disadvantages

  • Higher rates than term loans or SBA programs
  • Shorter terms than traditional loans
  • May require personal guarantee
  • Can encourage over-borrowing
  • Some lenders charge draw or maintenance fees

Frequently asked questions

What is the difference between a business line of credit and a term loan?
Lines provide flexible access with interest on drawn amounts; term loans offer lump sums with fixed payments. Lines suit ongoing expenses; term loans suit one-time purchases.
How long does approval take?
Approval typically takes 24–72 hours for alternative lenders. Once approved, you can draw funds immediately via ACH transfer, usually within 1 business day.
What are eligible uses for a business line of credit?
Lines cover any business purpose including payroll, inventory, marketing, equipment, or operating expenses, though some lenders may restrict certain uses.
What credit score is required?
Most lenders require 600+; scores of 680+ qualify for better rates and higher limits.
How much can I borrow?
Credit limits typically range from $25,000 to $500,000, with lenders typically approving 10–20% of annual revenue.

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