Line of Credit*
A line of credit is a set amount a business owner can access at any time for any need.
How Much Could I Qualify For?
Line of Credit Benefits
|Quick access to capital|
|No hidden fees|
Use Funds To:
|Buy new equipment|
|Manage short term capital needs|
What’s the process?
Apply online or speak with a dedicated business advisor.
Connect Rapid Finance with your business information.
Have funds in as fast as 1 day.
A line of credit for business is a set amount that you can access as and when you need it. This type of revolving credit is a quick and convenient way to get the funds you need when you need them, without having to wait for approval. You can get approval for funds up to a set credit limit, but you only start making repayments on your business line of credit once you start drawing from the pot.
In business, you can’t plan for everything, and you certainly can’t predict the future, so flexible financing options like a business line of credit allow you to make room for the unexpected. Whether it’s an exciting business opportunity or an unforeseen financial blow, you can dip into your business line of credit funds without any delay. Even better, this revolving credit is available for you to use again and again as you continue to borrow and pay back, within your agreed credit limit.
A line of credit for business can be secured with collateral, or unsecured, and payments can be made on a daily, weekly or monthly basis.
Documents needed to apply
You only need THREE things to get started:
Government-issued photo ID (Drivers License).
Voided check from your business checking account.
Three months business statements
The application process for a business line of credit is quick and simple, even if you have a less established credit history. We can get you approved in minutes and you can start drawing funds in as little as one day.
You can apply online or via one of our dedicated business advisors, and all we need to see is a government-issued ID (like a drivers’ license), a voided check from your business checking account, and three months of business statements. You can apply for a line of credit for business and get approval in advance, so that you’re prepared for anything, but there will be nothing to pay until you tap into your funds.
Line of Credit Features*
We understand the need for business owners to have access to different amounts of funds, at different times and for different purposes. Lines of Credit programs allow you to do just that and more. Get approved for larger amounts of capital, but only incur cost on funds you draw. Payments can be made on a daily, weekly or monthly basis.
Loans from: $5,000-$500,000
Loan Terms: 3-18 months.
Automatic daily or weekly payments.
Easy, fast application.
A business line of credit is ideal for short term or unexpected working capital needs, helping small businesses to take advantage of opportunities for growth, to bridge a gap, or to meet a sudden need – such as purchasing extra inventory to fulfill a large order or hiring seasonal employees to meet higher demands, for example.
This flexible, revolving credit, as opposed to installment credit, is also great for offsetting seasonal fluctuations in cash flow, so if your revenue comes in ebbs and flows, a line of credit for business might be a smart choice to see you through the quieter periods.
A business line of credit– or revolving credit – is an alternative to installment credit that suits the unpredictability of growing a small business:
- Quick access to capital, as and when you need it
- Flexible, so that you can be prepared for anything, without knowing exactly how much you’ll need
- No hidden fees, and you only pay on the amount you actually borrow
- Draw multiple short term loans, without having to re-apply
Other Financing Options*
*Rapid Finance markets all products listed on this website. Rapid Finance or RapidAdvance is the direct provider of capital for certain Merchant Cash Advances, Healthcare Cash Advances and Term Loans. However, these products as well as SBA Loans, Lines of Credit, Factoring, Asset Based Loans, Commercial Real Estate Loans and Business Credit Cards may be provided by an unaffiliated third-party. Products and amounts offered may vary by state.