A Line of Credit is an available balance of cash that you can draw upon at any time.
When you apply for a Line of Credit, you’ll be approved for a certain available balance. This is available cash that you can draw on when, or if, you need it.
You only pay fees when you draw down on your available cash. It’s free have sitting there, ready for a rainy day.
Any balance you repay is returned to your available balance. You can draw on it over and over again.
Here’s how a Line of Credit compares to some of the other options available for small business owners.
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A LINE OF CREDIT IS THE
MOST FLEXIBLE FORM OF CREDIT