BUSINESS LINE OF CREDIT

Having access to working capital when you need it is important when running a business. We

offer revolving business lines of credit. Once you have a pre-approved limit, you can access

funds at any time and only pay interest on the line of credit used. Benefit from monthly

payments, a quick application process, and building business credit history.

A line of credit (LOC) is a flexible revolving loan, in which a lender, usually a bank or a private lender, and a borrower, agree to a maximum amount of capital that the borrower can withdraw at any time. The borrower has these funds at his or her disposal, as long as he or she doesn’t exceed the maximum amount established in the agreement and makes payments on time.

The balance in a line of credit is revolving, meaning that the borrowers can use the funds, repay, and then spend again in a revolving cycle. In this way, lines of credit are very similar to business credit cards.

Business owners will typically use a line of credit to remodel or expand their store/offices, buy new tools or equipment, meet payroll, purchase inventory, launch a marketing campaign, or cover any unexpected expenses.

An essential advantage of a line of credit for business owners is that it provides more flexibility than a regular business loan.

Get started by applying today