Business Line of Credit

A line of credit gives you access to funds up to your credit limit which can be borrowed and paid back multiple times while only paying interest on the money you borrow. This is a flexible and typically unsecured way to borrow money for seasonal businesses or businesses that need help managing cash flow or handling unexpected expenses.

Pros:

Flexible borrowing

Typically no collateral required

Cons:

May have maintenance fee or withdrawal fee

Good credit and consistent revenue required

Best for:

Short term needs

Seasonal business to manage cash flow