Business Lines of Credit can Grow Your Small Business
Loans up to $5M. In most cases, No Collateral Required*
Obtain funding within a few days after approval.
Simple & Easy
Bad Credit or Past Credit Issues may NOT be a problem.
Approval within 24-hours of submitting the application.
Cadreau Capital Funding Makes Attaining Business Line of Credit Quick & Simple!
A Business line of credit is somewhat of a small business loan, but it is very unlike traditional business funding programs, with regards to terms as well as when it should be used. Still, a business line of credit’s functions is flexible, it is used by hundreds of industries, from auto repair to landscaping to retail. CCF specializes in working with business owners across hundreds of industries. We have devoted time in intimately understanding our clients’ businesses. This gives us a great understanding of what types of business loan programs will, and will not work for your type of business.
It’s There For You When You Need It.
Many businesses experience seasonality or other recurring factors that effect your revenue and cash flow. Customer demand can surge suddenly, which creates unforeseen requirements for added cash flow to pay employees or buy larger amounts of inventory. To help capitalize on these opportunities, CCF aids our clients to focus on increasing sales and profitability while dodging lost opportunities due to inadequate access to short-term money needs. Contact us today for your FREE business funding consultation!
What Documents Will I Need To Apply For A Business Line Of Credit?
Voided Business Check
Business Tax Returns
Credit Card Processing Statements
Ready to take the next step and apply for a Business Line of Credit?
What Is A Business Line Of Credit?
Like an old-style small business loan, a business line of credit allow you access to a certain amount of funding. You don’t make payments or incur interest, however, until you use the funds. So, if you don’t borrow any cash for one month, then you have a zero-monthly balance.
Interest rates for a business line of credit are usually lower than a small business loan of the same amount. But, if you are late with a payment or go over your limit, your interest rate will increase significantly. The faster you pay off the balance for a business line of credit, the lower your interest rate will be. A higher balance means you will have less to borrow when the need for capital arises.
Business lines of credit can be “rotating” or “periodic,” which means they can be used repeatedly. If you have a $50,000 line of credit and borrow $20,000, the remaining $30,000 is still available. Moreover, if you were to pay off your entire $20,000 balance so that your balance is back down to $0, you would have access to the full $50,000 line of credit without applying a second time.
Hence, a business line of credit is often equated to a credit card. Once you pay off the credit limit, you have the full amount to access when needed.
What do I need a Bad Credit Business Loan for?
Business lines of credit are most helpful for short-term, average sized investments. If you use a business line of credit for a long-term investment, you will not have access to the capitals in case of a cash flow problem. And you won’t be able to take advantage of new, profitable opportunities that require a little extra cash than you have on hand.
For example, an item from your store is selling at a surprisingly explosive pace. You need to order more to meet the mandate, but your vendor needs to be paid in advance. With a business line of credit, you could buy the inventory and then pay off the balance with the revenue you make from the high-volume of sales.
Another common dilemma that can be easily alleviated by a business line of credit is having to cover a regular business expense, like payroll, before you are compensated for a recent project. You could use a business line of credit to cover payroll and then pay off the balance as soon as your full payment comes in.
Partner with Cadreau Capital Funding today!
Cadreau Capital Funding recommends small business owners to think of a business line of credit as an insurance policy for your business when it is abruptly and/or momentarily strapped for cash. They do this mainly because you will not be approved for a business line of credit if you apply when revenue is in bad shape or you are in a financial emergency. The best time to apply for a business line of credit is before you need it, or when your business is doing well. Apply now to see how much you qualify for!