Reinvest. Rebuild. Repeat.
With a line of credit

A secured business line of credit:

A secured business line of credit requires your business to use an asset of choice, usually real estate as collateral to obtain the business line of credit. This may be the best option for businesses that may not have enough time in business or past credit issues that would hinder them from receiving an unsecured loans. The nature of a secured business line of credit is the institution will utilize the collateral for payment if a business defaults on their loan.

The unsecured business line of credit:

An unsecured business line of credit does not require the use of an asset as collateral, similar to a credit card. However, lien and personal guarantee may be necessary. These types of loans are generally more of a risk to the lender. Without the use of collateral, your business must have a strong credit score and a positive business record of accomplishment. An unsecured business line of credit may have higher interest rates than secured due to the risk to the lender.

To learn more about how a secured or unsecured business line of credit may benefit your business complete our 15-second application to speak with a business financing advisor.

• A business line of credit operates differently than a traditional term loan, which gives you a lump sum of cash to be repaid over a fixed period. Instead, a business line of credit provides you with access to a set amount of funds that you can draw from as needed.

  As you repay the borrowed funds, they become available for you to use again, as long as you stay within your credit limit. You only pay interest on the amount you use, not on the entire credit line. The repayment schedule can vary depending on the lender but is often set on a weekly, monthly, or periodic basis.

  Curious if a business line of credit is the right move for your business? Fill out our quick 15-second application to find out more.

  Discovering the Ideal Business Line of Credit

  When it comes to finding the best business line of credit, alternative lenders often provide top-notch options. Here are some key features to look for:

  • Quick Process: From application to funding, the entire process should be swift and efficient.
  • Variety of Lending Options: A broad range of lending choices ensures you find the perfect fit for your needs.
  • Revolving Line of Credit: You should be able to access additional funds as you repay the line, providing continuous financial flexibility.
  • Ongoing Access: The line of credit should be available for use during both opportunities and emergencies, ensuring your business stays resilient.
  • Competitive Rates and Terms: Look for rates and terms that align with your business goals and financial situation.

  To explore the best business line of credit options available today, fill out our quick 15-second application and connect with a business financing advisor to find the perfect fit for your needs.