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The credit line on a small business line of credit can be quite high. Depending on your business credit history and the company’s financial health, a card’s credit line can easily reach ...
Business line of credit: Similar to a credit card; you have access to a revolving line of credit. This means you can repeatedly borrow up to a certain limit, repay it, and borrow again.
Using the business line of credit for these expenses can help you improve cash flow if your sales come in on an uneven schedule or if clients pay invoices 30 to 90 days later than the invoice date.
To get an unsecured business line of credit, your business will need a solid financial profile (e.g., good credit score, at least two years in business, consistent or growing annual revenue).
Business and personal credit score: A business can have a business credit score showing how the business handles its finances, much like a personal credit score. Lenders may set a minimum business ...
Funding can take 60 to 90 days. Business line of credit. Accessing funds as needed. Quick access to funds. Only pay interest on what you use. Low borrowing limits. May come with high interest ...
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Bankrate insight. Business lines of credit may have lower credit limits when coming from an online lender. Loan sizes typically range from $5,000 to $500,000, though some go higher. By comparison ...