A business line of credit is a valuable tool to help you run your business without having to keep large quantities of cash on hand. A business line of credit is a revolving account that lets you draw money to help you run your business, and pay it back over time. Whether it’s to cover payroll expenses or other short-term lending needs – receivables, payables, rotate inventory – a business line of credit gives you access to capital when you need it, without the need to re-apply for credit over and over.
Business lines of credit can, however, cause problems if you don’t understand them or handle them properly. Your line of credit might be secured by a business asset lien or by receivables, or it might be unsecured – which will require more strict creditworthiness standards and may carry a higher interest rate. Blackstone Financial will work with you to help you understand how a business line of credit works, and what is the best financing option for your business needs.
Don’t forget that Blackstone Financial also is familiar with Small Business Administration-assisted business financing, including 504 and 7A loans as well as SBA express loans. If you are a qualifying small business, Blackstone Financial has plenty of experience to help you take advantage of government-assisted financing options to make it easier for you to obtain the business capital you need.
To get started, click on the link below to fill out our brief customer questionnaire. This information will help us determine your specific insurance needs so we can find the line of credit terms that are just right for you.