Business Line of Credit
Unlock Flexible Financing with TermLoans
Revolving Credit
Access funds as needed and only pay interest on the amount you use.
Flexible Terms
Choose between secured and unsecured lines of credit, allowing you to select the option that best fits your business needs.
Quick Access to Funds
Get the capital you need when you need it, ensuring your business operations run smoothly.
Frequently Asked Questions
What is the difference between a secured and unsecured line of credit?
A secured line of credit requires collateral, which can lower your interest rates. An unsecured line does not require collateral but may have higher rates and stricter qualification criteria.
Can I use a LOC for any business expense?
Yes, you can use your LOC for a variety of short-term expenses, including inventory purchases, marketing campaigns, payroll, and more.
How much can I borrow with a Business Line of Credit?
Your credit limit will depend on various factors, including your business’s financial health, credit score, and collateral offered.
What documents do I need to apply for a Business Line of Credit?
To apply for a Business Line of Credit, you typically need to provide financial statements, tax returns, a business plan, and details about your business’s revenue and expenses. Having a clear understanding of how you plan to use the LOC can also strengthen your application.