Growing a business takes significant working capital. Unsecured business lines of credit offer a flexible funding option for qualifying companies.
There are financial programs that provide unsecured business lines of credit for startups and established businesses. The former can qualify for up to $50,000 with a solid credit history; the latter can get as much as $500,000 with recorded revenue of at least $1 million. You can use these funds according to your wishes:
Lines of credit are revolving; as you pay down the principal, it becomes available to you again. Since you specify the amount you want to draw from the line, you can access funds at different times — you can even use this financing for unexpected expenses.
You’re only charged interest on the principal you have drawn. Larger credit lines can qualify for rates between 1% and 5% over prime.
If you have plans to expand your business, an unsecured business line of credit scroll down and Contact us today