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Business line of credit
Get approved once for a credit limit, then draw from it whenever cash runs tight. You only pay on what you use, and as you repay, that credit becomes available again.
At a glance
Amount
$10K–$500K
Term
Revolving
Funding speed
As soon as 24 hours
Payments
Weekly or monthly, on what you draw
How a business line of credit works
Request a draw online or by phone and the money is sent to your business bank account. Each draw is repaid over a set period, with payments based only on the amount you drew.
If you don’t draw, you don’t owe. Many owners keep a line open as a safety net for slow months, surprise repairs or a supplier deal that won’t wait.
Good for
- Covering payroll in a slow season
- Stocking up before a busy period
- Surprise repairs and replacements
- Bridging the gap while customers pay invoices
Is it right for you?
A good fit if
- Your expenses go up and down
- You want funds ready before you need them
- You’d rather not take on one large lump sum
Consider another option if
- You need one large amount for a single project: business term loans
- Most of your sales come in by card every day: revenue-based financing
What you’ll need to apply
Have these ready and the application takes about 10 minutes.
- Business bank statements from the last 3 months
- A government-issued photo ID
- Your business tax ID (EIN)
- Basic details: time in business, monthly revenue and industry
Typical minimums
Time in business
6 months or more
Monthly revenue
$10,000 or more
Credit score
500 or higher
Requirements vary by product. An advisor can tell you what you qualify for.
Questions about business line of credit
Don’t see your question? Call (866) 451-9260.
How is a line of credit different from a loan?
A loan gives you one lump sum. A line of credit lets you borrow again and again up to your limit, and you only pay on what you draw.
Does it cost anything if I don’t use it?
That depends on your offer. Some lines have a maintenance or draw fee. Every fee is listed in your offer before you sign.
How fast can I draw funds?
Once your line is open, draws are usually sent within one business day.
Other ways to fund your business
Business term loans
One lump sum, repaid in fixed payments over a set term.
Amount
$25K–$5M
Term
1–5 years
Funding
As soon as 2 business days
Equipment financing
Buy or lease the equipment your business runs on.
Amount
$10K–$5M
Term
1–7 years
Funding
As soon as 2 business days
SBA loans
Long terms and low rates, backed by the U.S. Small Business Administration.
Amount
Up to $5M
Term
Up to 25 years
Funding
Usually 30–90 days
Revenue-based financing
An advance on future sales, repaid as a share of revenue.
Amount
$5K–$2M
Term
3–18 months
Funding
As soon as 24 hours
Talk to a funding advisor
Get answers about your options with no obligation. We’ll explain every offer in plain language.