Business Lines of Credit
How does a line of credit work?
Our main goal is to provide business owners with ease and flexibility in attaining short-term capital which as a funding solution.
With a line of credit, you can borrow funds at any time as long as you don’t exceed the maximum amount. The largest advantage to lines of credit is their flexibility. With revolving credit, you’re able to continuously borrow money until you’ve reached your credit limit. Like a credit card, whenever you make a purchase, that amount is taken from your total credit limit, and whenever you make a payment, your credit limit goes back up.
Payments can be made monthly or weekly and help in establishing business credit. There are no penalty fees for early payments. A business line of credit is accessible 24 hours a day 7 days a week.
How to use it?
A line of credit for business can be a highly useful tool for all business owners. It is multifunctional and can be used for multi-purposes including but not limited to remodeling, marketing, sales, payroll, unexpected expenses, inventory and more. A business line of credit is the most convenient form of business financing available.