Business line of credit

What is a business line of credit?

A business line of credit gives you access to a set credit limit. You draw only the amount you need, when you need it, and you pay only on the balance you have drawn.

As you repay, that amount becomes available to draw again. It works like a safety net for your cash flow that you can use over and over.

How it works

1. Apply

   Send your application and recent business bank statements.

2. Get your credit limit

   The funding partner reviews your revenue and credit and approves a limit and repayment terms.

3. Draw when you need it

   Request funds whenever you need them, and they are sent to your business bank account.

4. Repay and reuse

   Make your scheduled payments on what you drew. As you pay it down, that credit opens up again.

Documents needed to apply

• Completed and signed application
• Last 3–6 months of business bank statements
• Copy of the owner's driver's license
• Voided business check

Some partners also ask for your most recent business tax return. A credit check is usually part of approval.

Good for

• Smoothing out uneven or seasonal cash flow
• Covering the gap between paying suppliers and getting paid
• Unexpected expenses
• Businesses that want funds ready before they need them