Unsecured Business Line of Credit
Our Unsecured Business Line of Credit provides great way to have a line of credit waiting and available when your business needs it most, without having to put up any collateral.
Free Consultation – No Obligation
What Do You Need To Qualify?
- 1 Year in Business
- 720 Credit Score
What Is an Unsecured Business Line of Credit?
A credit facility for business owners with high credit scores that can be used for any business purpose without requiring any collateral or business financials. You can draw against the facility whenever you need the funds.
How does an Unsecured Business Line of Credit Work?
- You can use the line of credit for any business purpose
- Financing up to $100k
- You pay only when you access the funds
How Can I Use My Unsecured Business Line of Credit?
You can use the line of credit for any business purpose.
- Perfect for start-up businesses.
How Can I Qualify For an Unsecured Business Line of Credit?
- A FICO score of 720 (but scores as low as 680 may qualify)
- No collateral required
- No financials required
- No recent derogatories and no major derogatory credit items
- At least 5 years of credit history is preferred
- Credit Partners (business partner, spouse, friend, or family member) can be used to qualify
What Are The Advantages of an Unsecured Business Line of Credit?
- It’s strictly based on your credit score
- No collateral. Traditional loans typically require some for of collateral
- No Financials
- Can be used to payoff a Merchant Cash Advance (if term is < 1 year)
- We can offer a 0% introductory rate for the first year
What Are The Disadvantages of an Unsecured Business Line of Credit?
The rates are generally higher than other financing options
Pros
- No Collateral Required
- Fast turnaround (usually within 24 hrs)
Cons
- High Interest Rates
How to Apply for a Unsecured Business Line of Credit?
Give us a call, or fill out the Contact Us form, describe your business and allow us to perform a soft credit pull. We will then determine what line of credit you qualify for.
What If I am Declined for an Unsecured Business Line of Credit?
Unsecured Business Lines of Credit are heavily dependent on your personal credit score. However, if you credit score is low, but you have great business cash flow, or assets which can be used as collateral, we can propose other alternative financing options. Some of which will offer you even better terms! We will work with you to obtain the best financing to achieve your goals.
What Is an Unsecured Business Line of Credit?
A credit facility for business owners with high credit scores that can be used for any business purpose without requiring any collateral or business financials. You can draw against the facility whenever you need the funds.
How does an Unsecured Business Line of Credit Work?
- You can use the line of credit for any business purpose
- Financing up to $100k
- You pay only when you access the funds
How Can I Use My Unsecured Business Line of Credit?
You can use the line of credit for any business purpose.
- Perfect for start-up businesses.
How Can I Qualify For an Unsecured Business Line of Credit?
- A FICO score of 720 (but scores as low as 680 may qualify)
- No collateral required
- No financials required
- No recent derogatories and no major derogatory credit items
- At least 5 years of credit history is preferred
- Credit Partners (business partner, spouse, friend, or family member) can be used to qualify
What Are The Advantages of an Unsecured Business Line of Credit?
- It’s strictly based on your credit score
- No collateral. Traditional loans typically require some for of collateral
- No Financials
- Can be used to payoff a Merchant Cash Advance (if term is < 1 year)
- We can offer a 0% introductory rate for the first year
What Are The Disadvantages of an Unsecured Business Line of Credit?
The rates are generally higher than other financing options
Pros and Cons of Unsecured Business Line of Credit?
Pros
- No Collateral Required
- Fast turnaround (usually within 24 hrs)
Cons
- High Interest Rates
How to Apply for a Unsecured Business Line of Credit?
Give us a call, or fill out the Contact Us form, describe your business and allow us to perform a soft credit pull. We will then determine what line of credit you qualify for.
What If I am Declined for an Unsecured Business Line of Credit?
Unsecured Business Lines of Credit are heavily dependent on your personal credit score. However, if you credit score is low, but you have great business cash flow, or assets which can be used as collateral, we can propose other alternative financing options. Some of which will offer you even better terms! We will work with you to obtain the best financing to achieve your goals.
Unsecured Business Line of Credit Amount, Rate, Term and Time to Fund
-
Loan Amount
$5k - $100k -
Interest Rate
1% - 2% p/mo -
Term
1 - 2 years -
Time to Fund
1 - 3 business days
Frequently Asked Questions
How does an Unsecured Business Lines of Credit compare to other Small Business Loan options?
| Financing Type | Financing Amount | Interest Rate | Term | Time to Fund |
| Accounts Receivable Financing | $10k – $10M (advance rate of up to 90%) | 1% – 2% p/mo | 3 months – 5 years | 1 – 3 business days |
| Business Line of Credit | $5k – $1M | Starting at 1% p/mo | 12 – 36 months | 7 – 14 days |
| Equipment Financing | $10k – $25M | 1% – 2% p/mo | 12 – 72 months | 1 – 3 business days |
| SBA 7a Loan | $350k – $5M | 9% – 12% fixed | 5 years – 25 years | 30 – 45 days |
| Supply Chain Financing | $250k – $25M | 1% – 2% p/mo | 30 – 150 days (re-usable) | 2 – 3 weeks |
| Unsecured Business Line of Credit | $5k – $100k | 1% – 2% p/mo | 1 – 2 years | 1 – 3 business days |
| Unsecured Business Line of Credit | |
| Financing Amount | $5k – $100k |
| Interest Rate | 1% – 2% p/mo |
| Term | 1 – 2 years |
| Time to Fund | 1 – 3 business days |
| Accounts Receivable Financing | |
| Financing Amount | $10k – $10M (advance rate of up to 90%) |
| Interest Rate | 1% – 2% p/mo |
| Term | 3 months – 5 years |
| Time to Fund | 1 – 3 business days |
| Business Line of Credit | |
| Financing Amount | $5k – $1M |
| Interest Rate | Starting at 1% p/mo |
| Term | 12 – 36 months |
| Time to Fund | 7 – 14 days |
| Equipment Financing | |
| Financing Amount | $10k – $25M |
| Interest Rate | 1% – 2% p/mo |
| Term | 12 – 72 months |
| Time to Fund | 1 – 3 business days |
| SBA 7a Loan | |
| Financing Amount | $350k – $5M |
| Interest Rate | 9% – 12% fixed |
| Term | 5 years – 25 years |
| Time to Fund | 30 – 45 days |
| Supply Chain Financing | |
| Financing Amount | $250k – $25M |
| Interest Rate | 1% – 2% p/mo |
| Term | 30 – 150 days (re-usable) |
| Time to Fund | 2 – 3 weeks |
Ready to take the next step and apply for an Unsecured Business Line of Credit?
Free Consultation – No Obligation
