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With a Chase Business Line of Credit or Commercial Line of Credit, your business can have access to working capital when you need it. Enjoy access to cash for short-term cash flow gaps, unexpected costs, or to help grow your business. Ideal for every business size.
What is a business line of credit? A business line of credit is a revolving credit account that provides businesses with access to funds up to a limit that is determined during the approval process. Interest starts accumulating once you withdraw funds, and you pay it down while still using your line of credit.
Chase Business Line of Credit Annual Fee: 0.25% of line ($200 min; $750 max). Fee can be waived if average utilization over the year is 40% or higher. Chase Business Line of Credit has a revolving period of up to five years.
Learn how a business line of credit works and when it’s a good idea to secure one with these five considerations. A small business line of credit helps you finance purchases without having to tie up your working capital.
A business line of credit is a loan with built-in flexibility. Like a credit card, it offers you the ability to use funds, pay and repeat. Used together, a business line of credit and a business credit card complement each other — providing options when and how you need them.
In many cases, borrowers who work with Chase receive an application response in as little as two minutes, and may be able to access their funds in as soon as 48 hours. There are no fees to apply for a Chase Business line of Credit.
Before speaking with a business banker, make sure you have all the required documents. Below are the minimum requirements of information you’ll need to apply to open a Chase business checking account, but the requirements are typically the same for any business checking account.
Determining the best financing option depends on your credit score, how quickly you need the money and the long-term effects it may have on your business. Below are 7 options for financing your business and what you should know about each option before signing up: 1. Bank loans.
Finance your small business with business loans from Chase. Find a variety of financing options including SBA loans, commercial financing and a business line of credit to invest in the future of your business.
Credit score requirements for business credit cards can vary by issuer and card type. Generally, a FICO ® Score of 670 or higher is considered a good credit score for a business credit card. However, some card issuers may require higher credit scores or have stricter credit requirements.