Business Lines of Credit

Line of credit borrowing limits — typically ranging from $10,000 to $150,000 — are smaller than a term loan. Business lines of credit with lower credit limits are typically unsecured, which means collateral such as real estate or inventory is not required

  • Receive up to 11% of annual gross sales
  • Programs range from 6 months to 18 months
  • Cost factor is between 1.20 and 1.35
  • 30 day payment deferment and 120 day closing delay available
  • Use up to 20 drafts per year (Merchant receives leather draft book)
  • Bankruptcies must be discharged one year with paperwork and tax liens in a payment plan
  • Minimum $10,000 gross monthly volume required
  • Merchant must net at least 70% of a current balance
  • Minimum 3 years in business required
  • Interest can be written off in business taxes using a 1099-INT form
  • Minimum 600 FICO to apply with 4 months processing and 4 months of bank statements