Business Line of Credit

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A revolving source of capital that allows a business significant flexibility in monthly spend. This type of loan is not for a predetermined amount, and is often used to meet recurring business needs such as working capital, inventory purchasing, paying off debts or ensuring liquidity.

Current invoices can provide an instant way to get cash to pay unexpected short-term expenses

How it Works

A business line of credit is similar to a consumer credit card. Upon approval you are granted access to a pre-determined amount of financing, which is determined by the lender. Like a credit card, you don't begin accruing interest or have minimum monthly payments until you spend against the line of credit specifically. Small business lines of credit can be secured or unsecured, meaning it is possible to get a line of credit with little or no collateral. As a revolving loan, a business line of credit is a credit account that your business can draw against over and over, up to your total credit limit. Lines of credit generally have lower starting rates than traditional business loans, but have much harsher interest penalties for late payment. Ultegra can guide your business to the best financial solutions. Call 1.888.893.6828 for a complimentary business analysis meeting or to discuss your options.

Qualifying for a Small Business Line of Credit

A line of credit loan is one of the most common ways in which businesses work with creditors. Because of popularity of this type of loan, nearly every financial institution offers a line of credit loan, so qualifying is often very straightforward. Lenders typically use things like time in business, revenue, and business history to determine the credit line that is extended. It is important to keep in mind that not all lenders review the same requirements for approval, and often times working with a bank that specializes in your industry will result in higher credit lines.

  • Companies in business at least 9 months
  • $75,000+ in gross annual revenue
  • A majority owner with a 600+ personal credit score

  • 6.99% – 39.9% APR
  • Your line amount and rate will be based on our assessment of your business, along with your business and personal credit scores
  • Fixed weekly payments
  • Electronic Payments accepted
  • Automatic deduction is available on most plans
  • Monthly maintenance fee may be required (waived for 6 months if you draw $5,000 + in the first five days of opening your account)
  • There are no fees charged on funds draw