Business Loans. Many businesses use unsecured lines of credit for cash on demand. If an expected expense crops up — especially one that could cripple or ruin a business — a bank credit line can be a lifesaver. Credit lines are basically pools of cash that business owners can tap when money is short and needs are intense.
Bank Lines Of Credit:Bank lines of credit are incredibly flexible when it comes to revolving credit. You can request a specific amount of money, but don’t have to use all of the available limit. In essence, you only take out what you need and pay interest on only what has been used and not the entire line of credit. Repayment periods are also flexible and allow you change the amounts you pay back monthly. Bank lines of credit can give upwards of $50,000 – $250,000. Business Credit Cards:The application process for business credit cards is similar to that of a standard credit card.
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Business credit card applications are typically much easier than other business loans. The business credit cards themselves can be used for a wide variety of purchases and are a good way to keep business and personal credit separate. However, with all of the benefits, this means business credit cards often have higher interest rates than other loans. Business credit cards can give upwards of $25,000 – $150,000. Finance Factory Helps You Find The Best Unsecured Business Financing For Your BusinessInterested in finding funding for your business? Finance Factory would love to help! If you’re looking to fund your business within the next 30 to 90 days and have a credit score of 600 – 800, let’s chat!
Get pre-qualified right now with our quick-step pre-qualification form! And don’t worry, this will not result in a hard credit inquiry of sensitive information. We just want to learn more about you and your business. Click below to get started!
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