What it is
A revolving limit. Interest or fees attach to what you use, not always to the full limit. You are not taking the whole limit on day one.
You pay on what you drew, on the schedule in the agreement. Read how often money leaves the account, and what happens if you draw again before the last draw is clear.
Lump sum
One amount, up front.
- How you get it
- All at once
- Repayment
- Fixed schedule
- Fits
- One known cost
Line of credit
Capacity you draw against.
- How you get it
- Draw what you need
- Repayment
- Repay, then draw again
- Fits
- Cash that comes and goes
When it fits
Seasonality, inventory cycles, receivables that lag. A quiet week. A vendor who will not wait.
This is not the right page if you need the whole amount on day one and will not redraw. That is working capital or a term loan. If the point is a machine you will keep, start on equipment.
What we need to start
Use of funds, legal name of the business, roughly how much, statements if you have them, and how often you expect to draw.
What happens next
Submit one application. We package the file and send it to lenders that buy this kind of paper. Options appear in your account when they exist. Sometimes more than one, sometimes none. You compare terms there, pick an option if you want one, and still review that lender's agreement before you sign.