Business Lines of Credit
How It Works
A Business Line of Credit (LOC) gives you a safety net. Unlike a traditional term loan where you pay interest on the full amount immediately, an LOC allows you to draw funds only when you need them.
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True Revolving Credit: Once you pay down your balance, your credit limit replenishes, allowing you to use the capital again and again.
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Cost-Effective: You only pay interest on the money you actually draw, not the total limit approved.
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Bridge the Gap: Perfect for covering payroll, managing seasonal cash flow dips, or seizing immediate inventory opportunities.
Unsecured and Secured Lines of Credit
There are two types of business credit lines: A secured and unsecured business line of credit.
The difference is with an unsecured "LOC" there’s no collateral required, therefore the approval process is typically faster.
With a secured line of credit the approval process is slower, but you can get approved for a higher amount because the money is secured against your assets. This is the perfect financial product for healhcare facilities and medical professionals.
Line of Credit General Information
* Payment Type: Daily, weekly, bi-monthly, monthly
* Minimum Credit Score: 600 First Position Only-No charge-offs, collections, etc.
* We fund in forty-nine states
* Early payment discounts available "A to C" level lines of credit available.
** Lines of credit with sub 600 credit scores may be considered if your business is at least 1 year old and additional qualifications are met.** Us Trust Business Loans is one of only a few allowing credit lines with such
a low score. One day waiting depending on volume and the application must be complete to be considered.
How it works: Once you pay down the balance you can use the credit line over and over again perpetually.
Top reasons to use a line of credit:
1. Bridging various cash flow gaps
2. Covering payroll and other business expenses in a pinch
3. Hire more employees
4. Consolidate current high rate loans or credit cards
5. Paying off fifty percent balances on merchant cash advances
* Funding Amount: $20,000 to $2MM.
* Terms: 6 months to 3 years