Line of Credit
A business line of credit gives access to a credit line to draw from when you need capital. Unlike a traditional business loan, you have the flexibility to borrow up to a set amount.
- Quick & Easy Process
- Multiple Financing Options
- Approved and Funded within 24 Hours.
Business Line of Credit
Operating a business we know emergencies happen, draw on your small business line of credit to handle cash flow gaps, purchase inventory, or address almost any other emergency or situation
The Benefits of a Business Line of Credit
Business Lines of Credit vs. Bank Term Loans
What actually makes a line of credit different from a traditional term loan?
Business lines of credit refresh your credit availability as you pay down principal, term loans do not refresh so once you use your funds you must pay back that amount over a set period of time.
If you’re comparing a small business line of credit with a traditional term loan, lines of credit are ideal for businesses that have repeated cash flow issues while term loans often make more sense when it comes to one-off business investments. But that doesn’t mean you can’t or shouldn’t use a business line of credit for business purchases if its something like office supplies or small ticket items, too.
Business Line of Credit vs. Credit Card: What’s the Difference?
Although business lines of credit and business credit cards are both forms of “revolving” credit, there are a few important differences you should be aware of:
- Credit cards usually have higher interest rates.
- Credit cards charge additional fees for cash advances and, often, balance transfers.
- Credit cards typically require payments on a monthly basis while business lines of credit usually don’t.
- Lines of credit give you access to cash.
Businesses That Can Benefit from Line Of Credit
Transportation
Expand your fleet or pay for costly vehicle repairs and maintenance
Trucking
Get the funding your trucking business need in as little as 24 hours
Auto Repair
Updating inventory and additional training for technicians
Construction
Purchase supplies & start projects before receiving payments
Contracting
Receive a cash advance on work you have yet to perform on a contracted job
Gas Station
Stock up on inventory, purchase gasoline in bulk, or upgrade equipment
Retail Store
Overcome the challenges of securing new inventory, managing your website, hiring new staff
Restaurants & Bars
Purchase inventory, pay rent and staff, or open additional locations
Beauty Salons & Spas
Add new equipment or restock expensive shampoos and creams
Barbers
Add new equipment or restock expensive shampoos and creams
Landscaping
Get the cash you need to cover immediate expenses
Nursery
Get the cash you need to cover immediate expenses
TruFunders
Get up to $1,000,000 in as little as 24 hours
Tru Funders considers the health of your business and not your credit score. In most cases, if your business has consistent monthly deposits you will qualify for a small business loan.
Competitive Rates
Tru Funders offer the most competitive rates
Same Day Funding
Get the funding your business need in as little as 24 hours
Easy To Apply
Simple application. No obligations, or impact on your credit.
Up to $1,000,000
Get up to $1,000,000 in as little as 24 hours or less
