What is a Line of Credit for Small Business?
A small business line of credit online gives you access to the working capital you need when you need it without the obligations of a fixed term loan. With a business line of credit, you can draw as much or as little as you need as long as you don’t exceed your credit limit. You have the flexibility to draw and repay as many times as you see fit, as long as your business is performing the same way or better than it was when your line of credit was approved. You’ll only pay a fee on the portion of money you draw.
Apply for alternative business credit from Angel Financial Solution online and get up to $500,000 in funding in just 24 hours.
Small business line of credit online rates
Most types of alternative business funding use something called a factor rate instead of a traditional interest rate. Factor rates are simple decimal figures that show how much “extra” you will owe on the original amount of the loan. Your factor rate is determined based on your risk assessment. Most factor rates fall between 1.1 and 1.5.
Who Should Apply for a Small Business Line of Credit Online?
Small business lines of credit are ideal for:
- Purchasing new inventory
- Opening a new location
- Upgrading or replacing equipment and technology
- Bolstering your small business’s marketing
- Filling in cash flow gaps during slow seasons or between projects
Lines of credit for small businesses can benefit attorneys, medical practices, construction companies, restaurants, retailers, and more. No matter what industry you operate in, our expert Funding Advisors will work closely with you to select the best funding option to help you achieve your business’s goals without sacrificing cash flow.
How to Use a Line of Credit for Small Business
There are no restrictions on how lines of credit for small business can be used. These loans are typically best used to:
- Fill in cash flow gaps caused by seasonal slowdowns or unexpected expenses
- Fund growth strategies, new equipment, and other costly purchases that have a strong ROI
- Finance an expansion, merger, or acquisition
- Take advantage of seasonal business opportunities such as purchasing inventory in bulk
Small Business Lines of Credit Online Qualification Requirements
It’s easy to apply for a small business line of credit online from Angel Financial Solution
. Approval is based on your business’s revenue and cash flow, not just your credit score. Here are some of the factors we consider:
- Business revenue
- Cash flow (based on your bank balances over time)
- Vendor payment history
- Years in business
- Industry type
- Public records
- Personal credit
Business Hours
Angel Financial Solution: Loan Specialist are here to ensure a fast and timely process. Call us if you need help or have any questions.
🕒 Monday – Friday
🕒 9am to 8pm Est
📝 WhatsApp: +855 90714767
📝 WhatsApp: +855 90714767
✉️ lizacolfer@gmail.com
🌐 www.angelfinancialsolution.com