Our business Line of Credit is a flexible business loan that allows you to borrow up to a certain amount. You might regard it as a credit limit, to cover your short-term working capital requirements. Unlike a term loan, you only pay interest on the amount you actually use.
For example, if you have a credit limit of $150,000 but only use $40,000, then you only have to pay interest on the $40,000 that you draw. Once the amount has been repaid ($40,000), then you can draw additional funds up to the amount of your credit limit ($150,000).
At nmc.fit and our Top Lenders and Top Accredited Investors we have various types of business Lines of Credit for you, each with its own benefit. We have listed them for you below:
- Secured business lines of credit,
- Unsecured business lines of credit,
- Real estate lines of credit, and
- Business credit cards.