Can an Unsecured Business Line of Credit Can Help Your Business?
Have you ever considered getting an unsecured line of credit for your business? Will this choice may not be appropriate for all businesses, it can help you get needed funding if you don’t have collateral. Small businesses in particular benefit from unsecured credit lines because they can rely on their credit profiles and business profitability instead of collateral when seeking approval.
Benefits for Established Businesses
In addition to helping small businesses establish credit, unsecured lines of credit are also a great choice for some established businesses. You are still not required to put up collateral, but you do need good credit and financials to qualify for larger loan amounts. Qualifying businesses that have at least $1,000,000 in annual revenue could potentially get up to $500,000 in unsecured credit.
Benefits for Startups
If you or at least one of your business partners has a good credit record, you stand a great chance of getting approved for up to $50,000, even with no collateral. In this way, you can establish a credit record and improve your future borrowing power.
Within just 10 minutes, you could find out if you qualify for unsecured business lines of credit. To get started, give us a call and one of our representatives will walk you through the process.