Draw more cash as you need it with a business line of credit from 1800Bizfund. Apply now to get the flexible financing you need as your business grows and speak with a knowledgeable Business Financing Advisor who can accurately answer your questions, explain your options, and work with you from start to finish
What Is a Business Line of Credit?
A business line of credit gives you access to cash whenever you need it and is an extremely flexible financing option. This type of loan allows you to draw cash from your credit limit as you need it, and only pay interest on what you use.
With revolving lines of credit, more cash will become available as you pay it down. Unlike selling equity, getting a small business loan allows you to maintain business ownership, profits and full control. Business lines of credit are the perfect financing tool when your business is in growth mode and you need access to funds.
You can also use it to bridge cash flow gaps during seasonal slumps, or as a rainy day fund. There are no restrictions on how you can use it—you can use a business line of credit to cover any costs or opportunities you face.
What Is Required for a Business Line of Credit?
Applying and qualifying for a business line of credit can take some effort, but it’s not difficult or time-consuming through our marketplace.
Different lenders have various qualifications, so whether or not you qualify can vary based on where you apply. The benefit of applying through a marketplace is that you can learn your options through a variety of lenders with only one application.
Banks and credit unions typically have more aggressive and demanding qualifications. If your business doesn’t have a spotless financial record, qualifying can be difficult. Even if your application is denied at a bank, you can qualify based on your annual sales at an online lender.
Marketplaces like National are less demanding, focusing on your business and opportunity over factors like history and credit. To qualify for a business line of credit at 1800Bizfund, you only need: