How Does a Business Line of Credit Work?
A business line of credit is a flexible financing option that provides access to funds as needed.
Similar to a credit card, a business line of credit allows you to borrow money up to a predetermined credit limit, and you only pay interest on the funds that you use.
You can withdraw funds as needed and repay the balance at any time. A line of credit is often used for short-term expenses such as inventory, equipment purchases, or payroll.
This type of financing is beneficial for businesses that experience fluctuations in cash flow or unexpected expenses.
With a business line of credit, you have access to the funds you need to manage your business operations and take advantage of growth opportunities.
