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We'll Find you a Business Line of Credit

Features

Amount: $50k - $500k

Interest Rate: 5%+

Term of loan: 6 - 5+ years

Time to funding: 1 day - 2 weeks

Requirements

6+ months in business

600+ credit score

$8k+ gross monthly revenue

7+ years without bankruptcy

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What is a Business Line of Credit?

A business line of credit is a flexible form of financing that provides your business with cash when you need it. The payback and interest structure is similar to a business credit card, but interest rates tend to be lower and dollar amounts higher. Unlike traditional loans, you are not charged an interest rate if you don't use the line of credit. However, if you regularly do not use your line of credit, the bank will be inclined to reduce your line of credit and reallocate their assets to another business.

Pros
Pay for what you use
Flexible use of proceeds
Provides financial cushion for emergencies
Lower credit scores can qualify
Builds credit history
Cons
Normally requires collateral
Low credit scores will have high rates
Most startups will not qualify

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