No Obligation, Pre-Qualification
Compare Business Line of Credit Offers up to $1 Million
Plan for yearly costs, cover cash flow shortfalls, or handle surprise expenses. One application puts your business in front of our extensive network of funders, so you can weigh limits, structures and payment schedules against each other before committing to any of them.
What Separates One Credit Line Offer From Another
A business line of credit sits between a traditional loan and a business credit card. You are approved for a limit, you draw against it when you need to, and you pay interest on what you have drawn rather than on the whole facility. It is the product owners reach for when the need is recurring and the amount is not known in advance.
Approvals for the same business come back with different numbers on them. The limit moves, the first payment lands on a different date, some lines are secured and some are not, and the rate you end up paying depends on how fast you clear the balance. Those four things are what you are actually comparing, which is why we source offers across a network rather than sending you to one desk.
How fast you plan to clear the balance matters more than most owners expect. A line you intend to pay off inside a month and a line you intend to carry for a year are not the same purchase, even at the same headline rate, and the offer that comes out ahead changes depending on which one you are. Tell your funding specialist how you plan to use the line and we will weight the comparison accordingly.
Payment timing is worth the same attention. A first payment due the following week is a different demand on your account than one due at the end of the month, particularly if your own customers pay on terms. When two offers are otherwise close, that calendar difference is often what decides it.
- Idle Lines Cost You Nothing
- Immediately Access Your Funds
- Limits Reaching $1 Million
- Unsecured Options Available
See what your business qualifies for.
One application, compared across our extensive network of funders. On average, funding is received within 2-4 business days.
How to Read a Credit Line Offer Before You Sign It
An unsecured business line of credit operates similarly to a business credit card. You have a credit line from which you can draw funds at any time. If you’re carrying a balance, you’ll have a minimum payment. Interest accrues only on the portions you have actually drawn. And when you pay off a part of your balance on time, that money becomes available again. This is because most business lines of credit are technically called “revolving” lines of credit.
Once you borrow funds from your business line of credit, you must pay interest and have a minimum payment. Depending on the funder, your first payment could be due the following week or at the end of the month. If you repay what you borrowed on time, your business line of credit replenishes. For example, if your monthly payment is $200, and your interest is $10. If you paid back $200, your credit line would go back up by $190. Your interest rate depends on how quickly you pay off your total balance.
With a business line of credit, you only have minimum payments when you use the money. That suits an unplanned cost or a short-notice opportunity, both of which turn up in most businesses eventually. An unused line sits there costing nothing until the week you need it. Seasonal buying is the common case: retail stores and liquor and convenience stores draw ahead of a busy stretch and repay as the stock sells, restaurants and bars do the same around a catering season, and wholesale distributors reach for the line when a customer order lands larger than the cash on hand.
Business lines of credit have become increasingly accessible. However, these products tend to have higher interest rates. And you might not be able to access more than $1,000,000. A bank may offer lower rates and higher borrowing limits in exchange for steeper requirements and a longer wait. Weigh that trade before you take it, because a cheaper quoted rate is not a bargain if the paperwork takes months you do not have.
Approved businesses generally meet the following criteria:
- Annual Revenue: $120K+
- Credit Score: 600+
- Time in Business: 6 months+
Most funders in this part of the network look for around six months in business and a credit score near 600, and they will want to see that recent deposits comfortably cover the payment. Those figures describe the middle of the range, not its edges. If approved, you can get funded in 1-3 business days.
If your application gets declined, it might be because a business line of credit isn’t the right tool for your financing needs. In this case, we might recommend other loan options. Another possibility is that you were declined due to poor personal credit scores. If so, you should look at our bad credit business loans, which reach funders that weigh recent revenue more heavily than the credit file. A decline on a credit line is also not a decline on funding overall. Our network carries over 10 different business funding programs, with approvals from $5,000 to $1,000,000, and the same application can be pointed at a term loan or at invoice factoring without you starting over.
Steps to Secure Business Funding with Sterling Street Financial
Submit Your Online Application
Fill out the online form. It asks what your business does, what the money is for, and what your revenue looks like. Call, chat or email if a question comes up.
Talk to Our Experts
A funding specialist reads your file and calls you with what the funders in our network sent back — the amounts, the costs and the repayment schedules.
Get Funded!
Choose the offer you want. Approved funds reach your account in as little as 24 hours, and most requests fund within 2-4 business days.
A Few Minutes to Apply
Fill out our online form and get approved quickly.
Compare Options
Both secured and unsecured loans with no personal guarantee.
Customize Terms
Choose what best suits you and your company’s needs.
Get Funded
Funds in as little as 24 hours, directly to your account.
Take your business to new heights.
Tell us the amount you are after and what your business takes in each month, and we will point your application at the programs that fit. No application fees, no obligation, and no impact on your credit score.