Business Line of Credit is also known as “revolving” credit because you can tap into funds again and again.
When the unexpected happens, a business line of credit can help your business recover faster with flexible business financing. This funding works a bit like a credit card, providing you with a maximum amount. Like a credit card, you can use as much or as little of the funds as you need (up to the maximum amount) and will not incur any interest or payments until you tap into your business line of credit.
A business line of credit can provide business owners with an extra source or funds when surprise expenses come up. Business lines of credit come secured or unsecured. Secured lines of credit are backed by collateral such as inventory or accounts receivable. Unsecured lines of credit are backed by your personal guarantee.
A business line of credit’s greatest advantage is its renewability. With quick and easy access to these funds whenever you need, you can cover ongoing operating expenses, cash flow gaps, seize on unexpected opportunities, and deal with emergency or surprise expenses quickly and effectively.
Precision Lending Group aims to provide a Business Line of Credit to contribute to the constant growth of your business.
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