The Business Backer Business Lines of Credit

Access working capital whenever you need it. Small business lines of credit are a popular form of business financing due to their flexibility. If approved, you will receive a credit limit. You can then decide how much you would like deposited into your business’ bank account, up to your maximum credit limit. As you make payments, that money becomes available to draw again — without the need to reapply. This form of revolving credit allows you to have working capital on hand whenever you need it. Taking out a line of credit through our partner Headway Capital can help your small business meet financing needs now and in the future. Reliable access to funds allows you to purchase inventory, cover payroll or take a chance on a business opportunity. With a business line of credit, each time you request a draw, you will select the amount to borrow (up to your available credit limit) along with a repayment term. Once complete, your entire outstanding balance is re-amortized. You will always only have one payment at a time and you will only pay interest on the funds you’ve drawn from your line. These are examples of the costs that come with our business line of credit. Your approval amount, interest rate and repayment term depend on a variety of factors including but not limited to your annual sales, industry type, time in business and overall credit performance.