Lines of Credit
A commercial line of credit provides your business with guaranteed access to funds whenever you need them. With most lines of credit these funds are not allocated for specific uses, which means that they are available for whatever your business needs at the moment.
Another significant advantage is that interest is charged only while the funds are in active use. If you have an open line of credit for 5 years but only use your funds for six months to allow staff expansion for a large project, you only pay interest during those six months. In this fashion, lines function both as a security measure (allowing you to stay afloat in lean times) and as a growth tool (providing the guaranteed funding whenever you are ready to expand).
Unsecured Lines of Credit:
The main advantage of an unsecured line of credit is the fast approval process for qualifying applicants. This financing option also requires less paperwork than other loan options, ultimately saving time for clients. As long as you have a good credit score, an unsecured line will provide funding without the need for assets or collateral. The limitation is that lenders will generally only consider this type of loan for well-established companies who have excellent debtor reputations. Our team of experienced loan brokers is here to help you decide whether it is a good fit for you.
We work hard to provide our clients with low APR unsecured lines of credit. Our Loan Brokers will work with you to find the right repayment options for your individual needs.
Secured Lines of Credit:
For those clients who need a higher maximum credit limit and lower interest rates, a secured line of credit is the best option. Lenders will require that businesses have assets on which a lien can be placed for the amount and duration of the loan. This provides them with a way to recoup the funds and provides security for large amounts of funding. For medium and small businesses, a secured line of credit is usually the best option for obtaining funding quickly.
Even the most successful businesses need financing on occasion. By starting early, we can find the right secured line of credit for your business. This ensures that when you need the funds, access has already been guaranteed. We work with a large network of lenders in the industry and we will find you a loan to meet your needs.
Working Capital
Business grows and changes all the time. When business is good obtaining a line of credit may not even cross your mind. But when business gets slow having a revolving line of credit can be the difference between security and confusion. Your business should be prepared for anything and our working capital lines are there when you need them
A working capital loan cannot be used on long-term purchases or investments like equipment or real estate. The loan provides financial relief for daily business operations like accounts payable, wages and invoicing. A working capital line of credit maintains a maximum loan amount that your business can borrow from as needed.
The major advantage of this type of financing is that the business is only charged interest on borrowed funds and not the maximum loan amount. A working capital line of credit gives businesses more freedom for repayment as funds come in without high-interest rates or finance charges.
Understand Your Options
We understand how difficult it can be to get the capital your business needs. We work to find the best solutions and connect you with the lenders who are right for you.
For more info, or to schedule an appointment, just use the form to let us know what you are looking for.