LOC · Financing
Accepting applicationsA business line of credit you draw only when you need it
Approved once, drawn many times. Pull what you need, pay interest only on the drawn balance, and the room refills as you repay.
- Amount
- $10k – $250k
- Funded in
- 2 – 5 business days
- Term
- Revolving, renewed annually
- Priced as
- Interest on the drawn balance only
- Min. trading
- 6 months trading
Illustrative ranges. Your actual amount, rate and term depend on your business and are set when you apply.
What a Business Line of Credit is
A business line of credit is a pool of funds you are approved for once and draw from whenever you need — like a credit card without the card. You pay interest only on the balance you have actually drawn, not on the whole facility.
It is built for uneven cash flow: a seasonal dip, a late-paying customer, an opportunity that appears without warning. Repay what you draw and the room is available again. Because it is revolving, it works best when the need is real but the timing is not yet known.
How it works
- 1Get approved once
Bank statements and a current debt schedule set your limit.
- 2Draw as needed
Pull any amount up to your limit, as often as you like, usually the same or next business day.
- 3Pay only for what you use
Interest accrues on the drawn balance; repaying frees the room again.
Who it is a fit for
Uneven cash flow and seasonal gaps, where the need is real but the timing is not yet known.
The facility is approved once and drawn many times. An unused line still gets reviewed at renewal.
What you will need
The full checklist is built from your answers in the application — you are never asked for a document that does not apply to you. For a Business Line of Credit, the document that does the work is: Three months of bank statements plus a current debt schedule. Most files are complete with around 9 documents in total.