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Business Line of Credit

A line of credit is a flexible safety net that lets you access funds as needed. Interest is only paid on what you use and the funds can be used for a wide variety of business uses.

Business Line of Credit

Overview

A line of credit is a flexible way to borrow money for your business. It gives you access to funds up to a set limit, and you only pay interest on what you use. Think of it as a financial safety net—you can draw from it whenever you need to. You can use it to manage cash flow, handle unexpected expenses, or jump on new opportunities. Plus, as you make repayments (either automatically or manually), your available balance goes back up, so you can keep using it when needed. Lines of credit can be secured (using property as security) or unsecured and vary in how they charge fees—some might only charge interest on what you use, while others could add setup fees. If you’re looking for a simple way to smooth out cash flow or boost growth, a line of credit could be just what your business needs!

Business Line of Credit

Features

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Typical Uses

Pros

Cons

Think About

  • An available cash buffer to cover overheads
  • Easy way to cover large upfront job costs
  • Buying stock in bulk to access discounts
  • Fund business growth
  • Manage tax debts
  • Use it whenever you need, it's totally flexible
  • Pay interest only on what you borrow
  • Lots of unsecured loan options available
  • Helps improve your business credit score
  • Quick and hassle-free application process
  • May need a longer business history
  • Could be subject to fees
  • Larger loans might need collateral
  • Lower credit may mean higher rates
  • This product will likely need a director’s guarantee
  • Does my business have ups and downs in income but steady bills to pay?
  • Am I planning to grow or invest in your business but unsure how much funding I’ll need?
  • Could having extra cash now help boost revenue or profit?
  • Do I feel confident in my future income and ability to repay a loan?
  • Do I want to consolidate outstanding accounts, invoices, or debts?
Typical Uses
  • An available cash buffer to cover overheads
  • Easy way to cover large upfront job costs
  • Buying stock in bulk to access discounts
  • Fund business growth
  • Manage tax debts
Pros
  • Use it whenever you need, it's totally flexible
  • Pay interest only on what you borrow
  • Lots of unsecured loan options available
  • Helps improve your business credit score
  • Quick and hassle-free application process
Cons
  • May need a longer business history
  • Could be subject to fees
  • Larger loans might need collateral
  • Lower credit may mean higher rates
  • This product will likely need a director’s guarantee
Think About
  • Does my business have ups and downs in income but steady bills to pay?
  • Am I planning to grow or invest in your business but unsure how much funding I’ll need?
  • Could having extra cash now help boost revenue or profit?
  • Do I feel confident in my future income and ability to repay a loan?
  • Do I want to consolidate outstanding accounts, invoices, or debts?
Typical Uses
  • An available cash buffer to cover overheads
  • Easy way to cover large upfront job costs
  • Buying stock in bulk to access discounts
  • Fund business growth
  • Manage tax debts
Pros
  • Use it whenever you need, it's totally flexible
  • Pay interest only on what you borrow
  • Lots of unsecured loan options available
  • Helps improve your business credit score
  • Quick and hassle-free application process
Cons
  • May need a longer business history
  • Could be subject to fees
  • Larger loans might need collateral
  • Lower credit may mean higher rates
  • This product will likely need a director’s guarantee
Think About
  • Does my business have ups and downs in income but steady bills to pay?
  • Am I planning to grow or invest in your business but unsure how much funding I’ll need?
  • Could having extra cash now help boost revenue or profit?
  • Do I feel confident in my future income and ability to repay a loan?
  • Do I want to consolidate outstanding accounts, invoices, or debts?

Potential Lenders

Further Information

MAXIMUM LOAN AMOUNT

$1,000,000

MINIMUM LOAN AMOUNT

$5,000

SPEED

Fast

INTEREST RATE

14%+

MAXIMUM LOAN TERM

5 Years

MINIMUM LOAN TERM

3 Months

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