business-line-of-credit-definition-and-how-it-works (1)

You can consider it a security blanket for your business. If you require additional funds, your credit line will always be available. Plus, a LOC is flexible, which allows you to make business decisions with greater freedom.

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You can use a line of credit for almost any business need. You need to do that to pay the employees, order more inventory, buy equipment, hire staff, or just get through a slow period.

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It can help you build your business credit score. Though we do not factor in your DNBI report when determining your funding, improving your credit allows you to qualify for better rates and larger amounts in the future.