Business Line of Credit
$5,000 – $250,000
Unsecured Business lines of credit are the most commonly requested form of financing. Why? A Business line of credit is a true asset to your business. You can draw from the line at any time, there are no collateral requirements, no liens placed on your business and no UCC filings. The line of credit helps meet the short term working capital needs like covering outstanding receivables, cash flow shortages, making payroll, purchasing inventory, expansion or unforeseen operating expenses.
An unsecured business line of credit is revolving like a credit card, has no fixed payment terms and typically requires interest only payments each month. This allows you to manage cashflow until the excess funds from more lucrative months roll in. The amount your business is able to receive from a business line of credit will depend on your past revenue and projected annual cash flow. A positive cash flow and the ability to demonstrate future debt coverage will be required for approval.
In recent years there has been a lot of skepticism that the Unsecured Business Line of Credit does not exist. This is simply untrue! Many business owners qualify for this type of funding but are unaware of which lenders have this product. With the help of Go2Capital we will determine the appropriate lender that will approve your Unsecured Line of Credit.