Competitive business line of credit rates could give you the flexible lending needed to take advantage of investment opportunities or manage cash flow
Flexible finance can be a significant advantage for a business, particularly if they may need cash fast in order to benefit from a time-limited offer or promotion. It can also be useful to deal with cash flow issues, providing essential money for salaries, equipment or materials until revenue from invoices paid reaches your bank account.
Business line credit involves a pre-approved loan, which can be drawn on as and when required. If you don’t need the full value of the loan, you don’t withdraw it. Similarly, repayments can be flexible; this allows companies to tailor their borrowing and repayments around their changing financial circumstances, ensuring companies have what they need to respond pro-actively to opportunities. Businesses can borrow and repay money rapidly if they wish, as well as borrow up to the pre-set limit for the lifetime of the agreement.
The best business line of credit varies, depending on the nature of your business, your lending requirements and the degree of risk. Contact our friendly, well-informed support team to discover more about lines of credit.