Business Line of Credit
The Business Line of Credit gives you the flexibility to draw funds as your business needs them. In essence, this product is like a credit card for a business. There is a maximum amount that you qualify for, and you have flexibility in how and when you use it. Like a credit card, the unpaid balance carries an interest rate that continues to grow as a balance remains, and the interest rate varies depending on your credit score. The application process for this product is also pretty quick as most lines are issued in about two weeks.
- Flexibility to use what you need when you need it
- Excellent owner credit is required
- Affordable rates
- Loan Amount – $2,000 to $350,000
- Process Time – 5 to 10 days
- Interest Rate – 7% to 26%