A Business Line of Credit – From $5,000 up to $3,000,000
The business line of credit is a product for businesses to have access to funds when the opportunity presents itself. Upon approval, you will have flexible access to the funds you need, without a restriction on when or how much you need to borrow.
How Much Money Can I Get
Our average sized funding amount is about $50,000. Most business owners enjoy the ease of use and flexibility of the business line of credit. We can secure you as much as $3,000,000 if you’re a large business with supporting financials.
How is the Line of Credit Repaid
You can choose to pay a percentage of your sales or make a fixed daily, weekly or monthly payment. Some business owners choose to make a hybrid payment, which is a combination of both percentage and fixed. You, as the business owner, have the option to choose whichever of these flexible options best meets the needs of your business. Again, we understand every business is different and we take pride in providing a solution that works best for every business owner’s particular situation.
Do I Qualify
Eligibility requirement for a business line of credit is quite lenient.
Once your business has been open for at least six months, all you need to do is provide documentation that you’ve made, on average, at least $10,000 per month in sales.
• $10,000 per month minimum in total sales
• No open bankruptcy – (discharged bankruptcies OK)
• Tax liens require a payment plan
• Credit is a very small factor
How Quickly Could You have Your Funds
Once we receive a full package for submission, our application and last 4 months bank statements you can expect an offer within 24 – 48 hours. Most offers occur in 24 hours. Once all contracts have been signed and all stipulations met then 1 to 2 business days for funding.
How Can I find out If and How Much my Business Would Qualify For:
Simply fill-out the “Free Consultation” form to the right and one of our Business Financing Specialists will get back to you within 24 hours.