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Time In Business
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$1M – $50M
$250K – $10M
7.99% to 18.00%
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Do you realize that a revolving line of credit might improve your financial situation month after month? Your small business will function more smoothly, allowing you to get the most out of it? When it comes to revolving credit, what should you know?
Our Revolving Line of Credit with interest rates between 7.99% to 18% is a type of financing designed specifically for the Business to Business (or B2B) space. Lines of credit can have a maximum credit limit between $500K and $10M. The revolving loan allows the borrower to secure a loan or revolving line for buying equipment, growing their business, or better managing their cash to seek additional opportunities.
If you’re looking for long-term funding for your small business, a revolving line of credit can be a good option. Learn about the benefits to your company?
Revolving lines of credit are a source of funds that can be drawn from as needed, up to a certain amount, and usually for a specified amount of time. Revolving credit examples include a personal line like a credit card and a Home Equity Line of Credit (HELOC aka home equity loan or home equity line). You are getting a maximum amount to draw from, and you make payments based on what you spend.
The business revolving line is perhaps the most flexible repayment terms and business financing option for any qualified business. The revolving credit account allows you to borrow up to your credit limit as you need the funds. Your pre-determined credit limit enables your business to determine the use of available funds versus a traditional installment loan that requires the borrower to specify the use of funds.
Rather than use a business credit card for additional capital or increasing personal credit card debt, the revolving line helps the borrower increase their available working capital. The revolving line can often bridge the gap between upcoming operating expenses and slow pay receivables. The effect of revolving credit is to smooth out the monthly cash fluctuations to handle the ongoing expenses.
A revolving credit loan is usually faster and more flexible than a bank or traditional loan. Think about the nature of your business. There are fluctuations due to seasonal changes, cash shortages for the one-time purchase, quick opportunities, and economic crises that come once every 100 years, like floods and pandemics. No one in business today will ever forget the effects of Covid-19 and what the Coronavirus did to their livelihood.
Imagine having the revolving line knowing what you know about the erratic nature of business. Think about having that revolving credit line. As long as you can make those minimum monthly installments and avoid too much debt, this becomes an excellent tool to manage your business.
For many businesses, acquiring a loan from a traditional financial lending institution can be challenging. Unfortunately, most business owners cannot apply to the bank for financing. The biggest challenge is that a lender like the banks or a credit union requires a large amount of paperwork.
This paperwork typically includes financial documents like Profit and Loss statements and Balance Sheets. It also requires:
Sunwise Capital’s Revolving Line of Credit -Revolving Line of Credit Requirements have the owners in mind:
For many businesses, acquiring a small business loan from a traditional financial lending institution can be challenging. Unfortunately, most business owners cannot apply to go to the bank for a small business loan.
Unfortunately, the biggest challenge is that banks require a large amount of paperwork.
This paperwork typically includes financials like Profit and Loss statements and Balance Sheets. It also requires the prior three years of personal tax returns, business tax returns, and the personal guarantee of owners. Lastly, banks want you to provide collateral and have excellent credit with a high personal credit score and strong credit histories, usually above 720.
Many entrepreneurs and small- to medium-sized business owners cannot jump over these eligibility determinations. The result is that business owners find it hard to find new or innovative ways to business funding for permanent working capital, loans, and business lines—to expand their businesses or better manage their cash flow.
The unique advantage to this revolving line of credit is that, unlike many other lenders, Sunwise Capital does not notify your customers. The biggest negative about factoring for many small companies trying to grow is that the business owner’s customers are told when a factor (or lender) takes over the receivables.
The negative perception is that customers are no longer paying the business, and instead, they believe they are paying the lender or factoring company. This common fallacy may concern the customers, and they may start to think your business may have cash flow trouble. In most business loan instances, this is untrue.
So, is a revolving line of credit good? Yes! Since we do not notify your customers, your business gets the funds it needs without giving the customer any need for unnecessary concern. Companies that take advantage of this offering will have full access to a self-service client portal and on-demand liquidity (think online banking).
In most business loan instances, this is untrue. Since we do not notify your customers, your business gets the funds it needs without giving the customer any need for unnecessary concern.
We use your business’ accounts receivables as collateral (this makes them secured loans). The result is the time from application to funding ranges from only four to seven days.
With a secured line of credit, you put up an asset as collateral to get a lower interest rate. Generally, your personal credit score, credit utilization, debt, or business credit are not factors, and this financing is business and not a personal loan.
The revolving line of credit is when a financial institution extends available credit (money/loan/credit line) to the business for an open or undetermined amount of time. You are paying back the debt on a periodic basis. The advantage of this credit is that repaying it means it becomes available again. It is a quasi-type of overdraft protection, and you pay only on the outstanding balance.
This revolving line means that after the financial institution establishes this “revolver,” you can continuously borrow up to that predetermined credit limit. So, each time you purchase something, you are using the extended credit. You then subtract that amount from the credit line, and you will pay on the loan and unpaid balance, and your credit line will increase as you pay off that borrowed amount. Think open-ended credit.
Are you familiar with a credit card or HELOC (home equity line of credit)? How about department stores’ credit card accounts or gas cards? Then you are pretty familiar with this type of credit. These are all considered revolving credit examples. The key is that the account does not close once you pay it off, and the funds remain available for future borrowing. Most owners call this a business line of credit.
An individual or a corporation can get a revolving credit or a line of credit from an institution. The lender gives the borrower access to money that he can spend any way; it’s similar to an open-ended, flexible loan. In truth, a revolving credit line is a form of a credit line. A credit line is a one-time deal, and the account is canceled after the credit line is paid in full.
The purchasing and payment flexibility make both types of lines of credit particularly appealing. Depending on the loan terms of the credit line, these can be used as needed and paid off whenever it is convenient, just like a credit card.
The nonrevolving credit or non revolving credit lines is typically called installment credit or term loan. This option is a loan that makes a regular minimum monthly payment, and these can be daily, weekly or monthly payments.
The lender gives you a lump sum or principal amount. Then, you pay it off over a predetermined amount of time. Once you pay it in full, it is retired, and the funds are no longer made available to you. Think of auto loans or a student loan.
Unlike many small company loans, an unsecured line of credit does not have a specific purpose or purchase in mind. As a result, it’s a viable option for small firms wishing to improve their cash flow management.
With an unsecured small company line of credit, you may be able to support variable wages or acquire seasonal merchandise for a short time period. You can use the money to fund more significant, longer-term loans at reduced interest rates (unlike a business credit card). In addition, there are no fees or interest charges until you utilize the money.
An unsecured business line of credit differs from an unsecured business term loan.
You don’t have to offer any collateral for either of these products, as they are unsecured. On the other hand, an unsecured term loan provides additional working capital in a single payment. You’ll have a preset amount of time (the term) to do it to pay off the debt.
Take advantage of this opportunity to get a company credit line and Apply Today.
To meet your specific requirements, our Sunwise Capital experts are standing by.
Call (888) 456-9223 for more information. If you have a unique financial circumstance, our team will work with you to make it happen.
Our underwriters are ready to tailor financial conditions to meet your company’s specific demands.
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