Line of credit
Line of Credit
An approved limit that costs nothing until the day you draw on it.
- Amount
- Up to $1,000,000
- Term
- 6 months – 3 years
- Cost
- From 4.5%
- Funded in
- 1–2 days
Line of credit
How a line of credit works
A line of credit is a limit rather than a lump sum. Draw against it, repay, draw again, without a fresh application each time, and pay interest on the balance you have taken rather than on the whole facility.
Because an unused line is free to hold, it is the one program here worth arranging before anything has gone wrong — which is also when it is easiest to arrange. A business that is not yet under pressure reads better to a lender than one that is.
What it gives you
Why a business picks this one
- Interest on the drawn balance only
- Refills as it is repaid
- Costs nothing while unused
- No reapplying to draw again
The application
Apply
About two minutes, no fee, no obligation, and no mark on the owner's credit score for asking.
Rather talk to somebody first? (844) 358-6249.
The six, level
Its row, against the other five
| Program | Amount | Term | Starts at | Funded in |
|---|---|---|---|---|
| Line of Credit | Up to $1,000,000 | 6 months – 3 years | From 4.5% | 1–2 days |
| Working Capital Loan | Up to $1,000,000 | Daily or weekly ACH | From 4.5% | 1–2 days |
| Term Loan | $10,000 – $1,000,000 | Up to 24 months | From 6% | 1–2 days |
| Short-Term Business Loan | $10,000 – $1,000,000 | Up to 24 months | From 6% | 1–2 days |
| Equipment Financing | Up to $250,000 | 1 – 5 years | From 8% | Monthly repayment |
| Merchant Cash Advance | $5,000 – $500,000 | Daily or weekly ACH | 1.10 – 1.35 factor | 24–48 hours |
The term loan and the short-term loan are published with the same amount, the same term, the same starting rate and the same speed. On these figures they are one product under two names. The difference between them is normally how long you are repaying — a term loan runs longer — so if you are choosing between the two, ask what term each is actually being offered at before you sign either.
The cash advance is priced as a factor rather than as interest, and the two do not compare. A factor of 1.10 on $100,000 is $110,000 to repay whether it clears in six months or eighteen; paying it off early does not make it cheaper. Interest does fall when the balance does. This site is the only one in its network that publishes the top of its factor range as well as the bottom.