Business Revolving Line of Credit
Same day approval and pay for what you use.
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$5k – 300k
Time to Funds
Simple interest starting at 5%
How it works.
To use your line of credit, here’s how it works: Once approved for a credit line, request funds directly from your dashboard. Funds are then deposited in your bank account in as fast as hours. Payments are automatically debited from your account each week or month for the course of the term. As you pay off your balance, your available credit line is automatically replenished. Plus, because your repayments are calculated with simple interest, you can save on interest when you pay early. This program doesn’t charge prepayment, or early repayment, fees.
What Is a Business Revolving Line of Credit?
A business line of credit gives you the ability to access funding when you want, up to your credit limit. And unlike a traditional loan or merchant cash advance that is one-time, this product is “revolving credit.” This means that as you repay back your outstanding funds, your available credit replenishes, and you can draw additional funds again as you like.
What Businesses Are Eligible For a Business Revolving Line of Credit?
To meet the minimum requirements for our Line of Credit, your business must have been in operation for at least six months, be a corporation or LLC, have a personal credit score of 625+ or more, and your business must generate at least $10,000 each month in revenue.
Fill out our application to see which option best suits your business needs.
How Fast Can I Receive My Funds?
As quickly as a few hours once approved. With this program you can choose between ACH electronic transfers or bank wire transfers. ACH transfers are free and the funds usually appear the next business day (but may take up to three). A bank wire costs $15 per wire and funds are typically available in your bank account the same day.
Can I Apply For a Business Revolving Line of Credit or Small Business Loan Even If I Have Bad Credit?
Although the underwriters do look at your credit, it is not the sole factor used to determine an approval or denial. BizLender has obtained approvals for merchants whose credits scores were in the low 400s. We pride ourselves on getting a large number of our clients funded, no matter their credit score.
How Does Repayment Work?
Weekly or monthly repayments are automatically debited from your bank account. As long as you have sufficient money in your bank account, you never have to worry about missing a payment.
I use Bizlender all the time…they are my bank when I need cash fast. Jason is first-rate. I honestly use Jason as my personal banker and I have never been disappointed. He makes you feel important…unlike traditional bankers.