Unsecured Lines of Credit
If you are in need of funding for everyday business expenses such as employee wages, accounts payable, or utility bills, a line of credit is the answer to smooth over cash flow speed bumps.
We pride ourselves in providing our clients with low APR unsecured lines of credit without all of the hassle. Our Loan Brokers will work with you to set the right repayment options for your individual needs.
The main advantage of an unsecured line of credit is the fast approval process for qualifying applicants. This financing 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.
Secured Lines of Credit
For 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 and there will be a lien in place for the amount and duration of the loan. This provides the lender with a way to recoup the funds in the event of non-payment. For medium and small businesses, a secured line of credit is usually the best option for obtaining funding quickly.
While you may not need it today, even the most successful businesses need financing on occasions. By starting the process early, we can find the right secured line of credit that will work best for your business. This ensures that when you need the funds, access has already been guaranteed. Even if you have been denied a Secured Line of Credit in the past, we work with the largest network of lenders in the industry and we will find you a loan to meet your needs.
Business grows and changes with the times. 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 answer to your prayers. Your business should be prepared for anything, and our Working Capital Lines are always there when you need them.
A working capital loan is not used to purchase long-term investments like equipment or real estate but rather it is a loan that 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 debtor is only charged interest on borrowed funds and not the maximum loan amount. A working capital line of credit also gives businesses more freedom for repayment as funds come in without high interest rates or finance charges.