Business Line of Credit

A business line of credit is a flexible financing solution that gives you ongoing access to capital up to an approved limit. Instead of receiving all funds at once, you draw only what you need—when you need it—making it ideal for both planned expenses and unexpected costs. Approval is typically fast and requires limited documentation.

How a Line of Credit Works

• Eligible businesses are approved for a revolving credit line, allowing repeated access to funds as balances are paid down.

• Typical qualification includes:

  • $20,000+ in monthly business revenue

  • Owner credit scores of 600 or higher

• Interest rates generally range from 4.8% to 24.99%.

• Repayment follows a fixed, predetermined schedule, either weekly or monthly.

• Available terms commonly include 6, 12, or 18 months.

• As you repay the balance, available credit replenishes, allowing you to draw again.

• Credit limits can reach up to $250,000.

• Decisions are made quickly, and limits may increase over time with strong repayment history.

What Determines Rates and Approval

Pricing and eligibility are evaluated based on:

• Credit score and overall credit profile

• Length of time in business

• Monthly revenue

• Industry type

What You’ll Need to Apply

The application process is straightforward and typically requires:

• 3–6 months of recent business bank statements or secure bank account linking

• A completed application with basic business and owner details

• Driver’s license

• Voided check

• Proof of address

Questions to Consider

Before opening a line of credit, ask yourself:

• Do you currently carry any business debt, and if so, with which lenders and balances?

• Are you likely to need access to funding within the next 12 months?

• What types of expenses would you use a line of credit for?

Helpful Things to Know

• You can establish a line of credit before you need it—there’s typically no cost unless you draw funds.

• Repayment schedules are predictable and can be set on a weekly or monthly basis.

• This option is best suited for businesses generating $20,000+ per month with 600+ FICO scores, looking for flexible access to working capital.

Next Steps

A line of credit can be a strong financial tool for managing cash flow, covering short-term expenses, or preparing for future opportunities. Reviewing your revenue and credit profile can help determine:

• Your potential credit limit

• The most favorable rate structure

• How quickly funds can be made available