Is a Line of Credit Right for Your Business?

Is A Line of Credit Right for Your Business?

Are you a small business owner? Then, you’re probably no stranger to financial constraints diminishing your potential investments. According to 2022 statistics, nearly 1 in 5 U.S. businesses fail within the first year. The most common reason is a lack of funds for investments and for keeping the operation running. If you’re looking for a quick, accessible, and flexible loan to fund your business expenses, Globelend Capital is here to help!

We have one of the best lines of credit loans for small business owners. Our services are easily accessible, and we offer some of the best rates on the market. Whether you need to make a small $25k investment or a big $250k purchase, we can work together to tailor our contract to your needs.

You don’t have to postpone your business milestones anymore. With our affordable and reliable LOC loan, you can finally expand your working team, capital, and services.

How Can a Line of Credit Help Your Business?

A LOC is, by definition, flexible and accessible. Such credits offer business owners a preset borrowing limit, from which the client can withdraw at any time. Once you withdraw your first sum of money, you’ll have to pay interest every month until you repay it.

This model is well-suited for small businesses and offers many advantages. At Globelend Capital, our LOC loan will provide you with multiple benefits, including:

· You only take and pay for what you need. With our LOC, you can borrow anywhere between $25k and $250k. You won’t have to settle for a sum you don’t want. We also only charge you for what you take out. There are no charges to open, maintain, or close your account.

· On-demand funding. Once approved, you’ll have all the money available in only a few hours. You can withdraw exactly as much as you need when you need it. The money is always just a few clicks away.

· High flexibility thanks to our revolving line. You can repay each withdrawal via weekly or monthly payments, replenishing your business funds. You reimburse the available credit as you repay each draw.

· Interest rates are starting at 4.8%. Alternative business loans are quick and accessible but have very high interest rates. Our rates are on par with traditional bank loans, even for fair FICO scores.

·       Same-day approval. Do you need to make an important investment ASAP? We can approve you in 10 minutes and give you account access the same day!

Whether you want to make a sizeable one-time investment or need help covering operational costs, our LOC credit is the perfect solution for small businesses needing urgent funds. Our flexible terms, quick approval, and excellent interest rates will allow you to access money with zero upfront costs and low long-term expenses.

Who Qualifies for a Line of Credit?

Are you interested in a LOC for your business? In that case, you’re probably wondering if you qualify. Please see our minimum requirements below. We’ll ask you for the following information upon application and will calculate the credit amount you can withdraw based on these statistics:

·       Your business must be older than six months.

·       You should have at least a 600 FICO score.

·       You need a minimum of $10,000 in monthly revenue.

·       You must provide the last three months’ bank statements to validate the information above.

We will also request basic information about your business, including the company name, location, and industry. After completing our application form, a Globelend Capital representative will reach you for any additional inquiries if necessary.

Are you prepared to begin? Call us at (855) 842-5626 or use our contact form to get funding today!

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