Business Line of Credit

Quick Access to Cash When You Need it

Every now and then, businesses may need additional working capital for various reasons. Perhaps you need to bridge cash flow gaps, cover payroll for the month, or deal with unexpected expenses. In any case, a business line of credit is one of the best financing options available. With United Business Loans, you can easily access a line of credit when you need it so you can keep your business running as well as explore growth opportunities.

Does your business qualify for a business line of credit?

A business line of credit allows you to borrow money and only pay costs on the funds used. At United Business Loans, we offer custom financing solutions with access to 50+ leading lenders. Want to apply?

Here’s some general requirements:

Your business must be at least one year old

The business must be located in the US

Your business should have at least $50k in revenue over the past year

No personal credit score requirement

Your lender may ask for supporting documents and additional requirements, but by just reaching these minimum requirements, your business can get a credit line.

Pay Interest ONLY On The Amount You Borrow!

Although you can borrow as much as $150k on your line of credit, you don’t actually have to pay interest on the whole amount. Think of your business line of credit like a credit card which you can use to:

• Build business credit rating
• Access funds instantly and without waiting for loan approval
• Fund emergency business purchases
• Purchase without using cash
• And many more!

Now more than ever, the business environment is highly volatile; and having a business line of credit is a great way to be assured that you can get funds right when you need it.

Line of credit vs. credit card

While lines of credit and credit cards share some similarities, there are a number of critical differences between them worth noting. For one, with a business line of credit, you don’t have to worry about credit card fees, and the rates are also much better.

Additionally, a line of credit can help save your business money since there are no fixed payments, and the interest you pay is often based on the market. If you were to use a credit card instead, there would be no way to recover lost funds, especially with the fees and high rates that typically follow.

Here’s how a credit line can help your business:

Build your credit easily

With access to a certain credit limit, prompt payments on the amount drawn from your credit line will boost your credit rating.

Use your credit line how you want

From equipment to renovations, a business credit line is definitely flexible enough to accommodate your business needs.

Enjoy higher credit limits

For the same credit rating, business lines of credit generally have higher credit limits than personal lines of credit. That means you can fund even more of your business purchases.

A business line of credit is essential for businesses of all types and sizes. With its range of usability, you don’t have to be limited by the existing funds in purchasing investments for your business.