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Alex Young

Business Line of Credit

A flexible loan that you can access as needed to borrow up to a certain amount over time.

123-456-7890

A line of credit allows you to borrow funds for planned and unexpected expenses with a low rate. The approval process is fast and requires minimal paperwork.

March 14th, 1984

Revolving line of credit for instant access to funds

1. How funding works
2. Rates are based on
3. Required documents

  • A business making more than $20,000 with owner(s) FICO scores above a 600 is provided with a revolving Line of Credit (LOC) at low rates

  • Rate range: 4.8%-24.99%
    LOC is paid on a consistent predetermined schedule (weekly or monthly)

  • LOC terms are 6, 12, or 18 months

  • More funds are available to draw as the principal is paid down

  • Credit lines up to $250,000

  • Approvals are extremely fast, and the credit limit can increase as long as there is a good repayment history

  • Credit score and profile

  • Time in business

  • Monthly revenue

  • Industry

  • 3-6 months of recent bank statements or securely linking the business bank account

  • Application with basic details about the business and merchant

  • Driver’s license

  • Voided check

  • Proof of Address

4. Ask Yourself

  • Do you have any existing debt on your balance sheet? If yes, what are the balances owed and who are the balances owed to?

  • Do you anticipate needing funding anytime in the next 12 months?

  • What do you intend to do with the funds from a line of credit?

5. Good to know

  • Why not set up a line of credit now for a rainy day, as you won’t be paying anything until you draw from it?

  • Repayment can be made on a weekly or monthly basis

  • Great option for business owners with a 600+ FICO score and grossing at least $20,000 per month

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