Why use a Business Line of Credit?
A Business Line of Credit can be a good option if you want to grow your business or consolidate your finances. The funding is available when you need it and the money can be used for multiple purposes. It is flexible and provides financial freedom.
Business Line of Credit Features:
- Easy access to funds up to your approved limit
- Only pay interest on the amount you draw down
- Repay at your own pace
- Redraw funds whenever you choose (up to the approved limit)
Business Line of Credit Requirements:
- Credit and ID Check
- Bank statements showing a good track record and that you can afford to borrow
- Good credit score
- 6+ months in business
- No collateral required
Revolving Line of Credit
A revolving Line of Credit has no term, once you repay you can draw down again.
How is a Business Line of Credit different compared to other business loans?
Interest – With a Line of Credit you only pay interest on the amount you draw down. With other business loans, you start paying interest immediately when you take out the loan.
Access – With a Line of Credit the funds are available when required. With for example an overdraft the account needs to be in the red before you can use it.
Want to read more about Pros and Cons of a Business Line of Credit?
Why use us?
The relationships we have with our financiers have been developed over time and have been nurtured through the course of extensive dealings. The strength of these relationships underpins our ability to offer superior services and competitive products.
We can help with many different types of commercial finance funding options. We are much more than an online loan matching site.
It is in your best interest to look at the whole picture. Do you for example already have loans with certain lenders?
Do you have a mortgage? What are your business plans for the future?
We will help look for the best solution. Our aim is to create long term relationships with our customers.
Whether you are a sole trader or a large company; there is a wide range of commercial finance options available to you when you partner with Commercial Point Finance.
The next time you and your company are in the market for commercial (business) finance, rely on Commercial Point Finance for your financing advise.
Check out our Commercial Finance Page for all our commercial finance options.
Call Now to discuss – 02 9453 0300.