Lines of credit
is a flexible way of getting additional operating capital for seasoned businesses. For this type of loan, interest is paid only on the amount of money withdrawn for use. For instance, if a $50,000 line of credit is granted to you and you only withdraw $5,000, the interest you will pay will only be calculated for the amount of $5,000 used.
The rates for lines of credit range
to 26.00% APR
and are based on the assessment of your business and/or personal credit. To pay back, fixed daily, weekly, bi-weekly or monthly payments are withdrawn directly from your business bank account. Our lines of credit are usually granted for a year, but may be extended afterwards.
We provide lines of credit of up to $100,000 and our APR's are as low as 12.99 %. Credit lines can be used as a flexible working capital to gain advantage of new business opportunities or to cover your unexpected expenses when needed.
Line of Credit
Line of Credit Qualifications and Pricing
|Do I qualify?
- Companies in business for at least three years
- $200,000+ in gross annual revenue
- A majority owner with a 600+ personal credit score
|What are the rates?
- 12.99% – 26.00% APR
- Your line amount and rate will be based on our assessment of your business along with your business and personal credit
|How do I pay back?
- Fixed daily, weekly, bi-weekly or monthly payments
- Automatically deducted from your business bank account, so you don’t have to worry about missing due dates
|Are there any fees?
- $20 monthly maintenance fee, which is waived for 6 months if you draw $5,000 or more in the first five days of opening your account
- Additional fees are subject to credit approval
Sample $10,000 Draw and Payback
Based on a 19.99% APR
|Pay off your balance in …