Approved Amount

• Credit Limit: Typically ranges from $10,000 to $5,000,000, depending on the business’s financial profile.

• Amount Based on: Approval is based on factors such as business revenue, credit history, and cash flow.

• Usage Flexibility: You can borrow as needed up to the approved credit limit, with the ability to reuse the credit once repaid.

• Larger Limits: Businesses with stronger financial performance or higher revenues may qualify for larger credit limits.

• Zero Fees: No fees for balance transfers or cash withdrawals.

Line of Credit

A Line of Credit provides businesses with flexible access to funds, allowing you to borrow up to your approved credit limit and only pay interest on what you use. This revolving credit replenishes as you repay, ensuring you always have capital available. With no collateral required, it’s a convenient way to get funding without putting assets at risk. Interest rates are typically lower than traditional loans, with flexible repayment terms that align with your cash flow. Ideal for covering seasonal expenses, inventory needs, or unexpected costs, a Line of Credit gives businesses the financial flexibility to grow and manage cash flow effectively.

Line of Credit Terms

• Generally 12 to 24 months, depending on the lender and business needs.

• Access to Funds: Funds can be accessed via online transfers, checks, or a credit card linked to the line of credit.

• Collateral: Unsecured or secured options available, depending on the loan size and lender requirements.

• No Early Repayment Penalties: Businesses can repay early without facing penalties, and may save on interest.

Interest Rates

• Introductory Offer: 0% interest for the first 6 to 24 months, based on your business profile and lender terms.

• Standard Interest Rates: After the introductory period, fixed interest rates typically range from 6% to 24%, depending on:

  • Your business creditworthiness and financial health

  • The loan size and repayment term

  • Whether the line of credit is secured or unsecured

• No Variable Rates: The interest rate remains fixed for the duration of the loan, offering predictable repayments.

• Repayment Flexibility: Pay only for the amount you borrow, with interest charged only on the used credit.

• Fixed Monthly Payments: Fixed monthly payments based on the amount borrowed, making it easier to manage cash flow.

• Repayment Period: Typically ranges from 12 to 24 months, with the option to repay early without penalty.

• Introductory Period: During the 0% interest period (6 to 24 months), no payments on interest are required, but principal payments may be due.

• Revolving Credit: Once repayments are made, your credit becomes available again for future borrowing without needing to reapply.

Repayment

Eligibility

• Working Capital: To cover day-to-day operational expenses and manage cash flow gaps.

• Inventory Purchases: To stock up on inventory or raw materials for business operations.

• Equipment Financing: To purchase or upgrade equipment, machinery, or technology.

• Business Expansion: To support growth initiatives, such as opening new locations or launching new products.

• Debt Consolidation: To consolidate higher-interest debt into a single, more manageable payment.

• Marketing and Advertising: To fund marketing campaigns, ads, and promotional efforts to attract more customers.

• Emergency Expenses: To cover unexpected costs, such as urgent repairs or unforeseen operational needs.

How Line of Credit Can be used for

• Business Duration: Your business should have been operating for at least 6 months to 1 year.

• Credit Score: A credit score of 600 or higher is typically required. Higher scores may qualify for better terms.

• Monthly Revenue: A consistent monthly revenue, generally around $10,000 to $15,000 in sales.

• No Collateral: Unsecured or secured options may be available, depending on the business’s financials and the amount requested.

• Minimal Debt: A lower level of existing debt is preferable for approval and better interest rates.