Apply Online for
Business Line of Credit
Enjoy the flexibility of a revolving line of credit. Draw as you need and pay only for what you use.
Credit lines up to
$250,000
Rates As Low As
4.8%2
Approvals as fast as
5 minutes
LET’S TALK DETAILS
What is business line of credit?
As you borrow from your credit card that allows money as line of credit does, you have to continue accessing capital you need for ongoing growth. It is a type of business financing that allows funds to be used on as-needed basis and up to a specified limit.
A line of credit is a credit account with predetermined credit limit that can be needed or repaid over time. Funds for business purchase such as inventory, supplies and operating expenses is better than using traditional loans.
Business typically uses a line of credit to remodel or expand their stores/offices, need some tools or equipment, payroll or any type of high expenses in their business.
Legacy Funding Services is here to provide the best line of credit for business owners that provide more flexibility than regular business loans.
Funds available same day
Enjoy peace of mind by having money available for any business expense. within hours from submitting your application.
Only pay for what you use
No fees to open or maintain your line. No prepayment fees, monthly maintenance fees, or account closure fees.
Access to a revolving line
Draw as little or as much as you want from your available credit. Your credit line replenishes as you make repayments.
Financing that grows with you
We support your business growth by getting you the right working capital for your business size at any stage.
Fast Working Capital Made Simple
Casual banks lenders are not known for the processing speed of applications to borrowers by sparing the fund of their banks.
That’s the reason Legacy Funding Services is here for your online service to approve your funds when you need them on same day.
Apply Now
Types of business line of credit
Revolving business credit score
For businesses that have a strong credit score; credit limits are generally higher than implied after the withdrawals are repaid.
- They are available with no security
- Provide immediate temporary liquidity
- Get funds quickly without going into debt
Non- Revolving business credit score
For small businesses that have a weaker credit score; credit limits are generally lower.
- Offers secure financing for a business
- Better expenditure projections
- Lower interest rates
Secured business line of credit
It is a type of credit where an agent or lender will give you credit for an asset you are able to give.
- It is a risk to lose your asset
- Offers higher credit limits
- The interest rates are generally lower
Unsecured business line of credit
It is a line of credit where no collateral is required because its approval is much faster.
- Generally offer High interest rates
- Shorter lines of credit
- More difficulty qualifying
What you need to get started
Minimum qualifications
- 450+ FICO
- 6+ months in business
- $10,000 in monthly revenue
What you need to apply
- Basic details about you and your business
- Bank connection or year-to-date bank statements
LET’S TALK IN DETAIL
How business line of credit work?
Small business is able to work quickly and effectively in times of growth or fluctuating cash flow. If you really need to manage the flow of cash, purchase inventory, or unexpected expenses, a business line viable option.
Revolving the LOC, even if you are not going to use it the ideal time to apply for business funding is when it’s not required or not even when you are desperately looking for capital.
A business credit card is a credit line that has the same benefits and drawbacks. The money you borrow is the only money you pay for interest, if you don’t borrow more than a certain specific amount it is up to you to use it or repay the money once have reached credit limits.
Check now to see if you qualify with no risk to your credit!
Find the right financing solution for your business, whether you’re just getting started or expanding. Work with one of our experienced advisors who can advise you as per your unique business needs.