A secure line of credit is a loan that is backed by one or multiple assets, such as real estate, vehicles, investment products, and so on.
In return for pledging these items as collateral, borrowers typically get a lower total cost of borrowing vs. an unsecured line of credit, which as the name suggests is not backed by assets. Also, borrowers may get access to a higher line of credit.
If you’re considering a secure line of credit to manage your business’s capital and cash flow needs, then you should take 3 tips to help you maximize value and minimize cost to heart!
At National, we offer several secured lines of credit, including equipment-backed, inventory-backed and invoice-backed solutions.
It’s also fine if you have impaired or bad credit (we’re more interested in the future than the past), and we can augment your secure line of credit with a short or long-term business loan so that you get the most value and flexibility — for minimum cost.
Apply online to get started by filling out our simple 1-minute application, and receive funds in as little as 24 hours!
To learn more about business opportunities and why a secured line of credit can help you be prepared, check out our free eBook “7 Profitable Opportunities That You Could Miss Without More Business Funding”:
National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
Megan Capobianco is the Marketing Manager at National Business Capital & Services. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.