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Traditional lenders tend to have strict requirements for business lines of credit, including credit scores of 670 or higher, annual revenue of $250,000 or higher and at least two years in business.
Business line of credit: Similar to a credit card; you have access to a revolving line of credit. This means you can repeatedly borrow up to a certain limit, repay it, and borrow again.
A business line of credit can help a small business owner cover short-term needs. ... line of credit, lenders will review your application to determine eligibility. Here’s a look at some of the ...
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Business line of credit costs and fees. When getting a business line of credit, lenders charge fees and interest, both to open and to use your financing. This is represented by the line’s annual ...
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