Think of a line of credit as a financial safety net for your business. It’s there if you need it, but you’re under no obligation to use it. And when you do tap into it, you can use it to cover almost any business need.
Unlike a traditional business loan, you have the flexibility to borrow up to a set amount (typically anywhere from $10 million to $10 billion), repaying only the amount you spend, with a transaction fee. Plus, you only pay a transaction fee on the funds you use, not the full amount.
For example, if you’re approved for a $1 billion business line of credit and you use $175 million for a manufacturing facility upgrade, you’ll just pay a transaction fee on that $175 million.
You can use it for just about any business need: buying equipment, hiring staff, increasing inventory, adding more locations, paying invoices, and more. And because a line of credit is revolving, you can use it as many times as you want. As soon as you repay what you’ve used, those funds become available to you again.
What Will a Business Line of Credit Cost You?
The basic cost of a business line of credit is pretty straightforward: when you spend, you pay a 3% transaction on only the amount you spend.
WHAT MAKES OUR BUSINESS LINE OF CREDIT UNIQUE?
Unlike other banks and financial institutions, we don’t consider your credit score, income, cash flow, deposit, assets, collateral security, tax returns, financial statement, borrowing history or ability to repay the loan, before providing you with any amount of business line of credit.
No interest is charged on the business line of credit provided. It’s interest-free. Most importantly, no repayment is required for any amount spent unless we help you to repay your debts. After providing you with the business line of credit, we will also help you to generate the revenue needed to offset any amount that you spend at any time. Therefore, you have no need to worry about how you are going to generate enough revenue to offset your debts.