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For businesses that require flexible financing, a business line of credit provides access to funds at a lower interest rate than other options.
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 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 ...
A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A financial institution makes available an amount of credit to a business or consumer during a specified period of time.
Many business lines of credit have more lenient requirements to apply than a traditional business loan. You may still find options even with fair personal credit or low revenue.
A business line of credit can be a powerful tool to help an entrepreneur establish and grow their small business. Like a credit card, a business line of credit is a kind of revolving credit ...
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