Credit Line for a Small Business

For a small business, a line of credit is like having a loan on tap; you withdraw money as you need it, up to a certain limit set by your lender. If you know you will need some extra money over time to run or expand your business, a business credit line may be the perfect solution.

Lenders typically reserve business credit lines for businesses that have a proven track record. Credit lines may be secured or unsecured, and they usually require you to pay a minimal annual fee to cover administration costs. Many business owners prefer business lines of credit to loans.

Here are some of the advantages of opening a business credit line: Business credit lines typically offer lower interest rates than credit cards; improve your cash-flow management; make it easier to initiate purchases that are too large for your credit card; provide a source of emergency funds, and offer you the flexibility of repaying and borrowing again. Please contact us or call 614-228-2296 for more information about credit lines for a small business.