A Business Line of Credit gives you the flexibility to access needed funds quickly and conveniently. It’s a financing option that’s tailored to your business’s needs, while allowing you to cover any expense that might arise. One of the key benefits is that you only pay for what you use. This means you only get charged based on the amount you draw from your line of credit, rather than the entire amount that you’re approved for. There are many unsecured business line of credit options available, meaning that you don’t need to put collateral down to get funding.
You can draw as much as they want from your credit line as frequently as you want, up to a maximum predetermined amount. At National, we offer true revolving lines of credit. Unlike other options on the market, as you make payments on the amount you draw, the money will again become available. Even if you don’t immediately need funding, a Business Line of Credit can help you handle unexpected emergencies and tackle new opportunities. With a business line of credit, you are only charged interest on the amount you use, not the entire available amount.