Best of the Week
Most Popular
1. Will Gold Price Breakout? 3 Things to Watch… - Jordan_Roy_Byrne
2.China Invades Saudi Oil Realm: PetroDollar Kill - Jim_Willie_CB
3.Bitcoin Price Trend Forecast, Paypal FUD Fake Cryptocurrency Warning - Nadeem_Walayat
4.The Stock Market Trend is Your Friend ’til the Very End - Rambus_Chartology
5.This Isn’t Your Grandfather’s (1960s) Inflation Scare - F_F_Wiley
6.GDX Gold Mining Stocks Fundamentals - Zeal_LLC
7.US Housing Real Estate Market and Banking Pressures Are Building - Chris_Vermeulen
8.Return of Stock Market Volatility Amidst Political Chaos and Uncertain Economy - Buildadv
9.Can Bitcoin Price Rally Continue After Paypal Fake FUD Attack? - Nadeem_Walayat
10.Warning Economic Implosion on the Horizon - Chris_Vermeulen
Last 7 days
Crude Oil Price Trend Forecast - Saudi Arabia $80 ARAMCO Stock IPO Target - 21st Apr 18
Gold Price Nearing Bull Market Breakout, Stocks to Follow - 20th Apr 18
What’s Bitcoin Really Worth? - 20th Apr 18
Stock Market May "Let Go" - 20th Apr 18
Overwhelming Evidence Against Near Stock Market Grand Supercycle Top - 20th Apr 18
Crude Oil Price Trend Forecast - Saudi's Want $100 for ARAMCO Stock IPO - 20th Apr 18
The Incredible Silver Trade – What You Need to Know - 20th Apr 18
Is War "Hell" for the Stock Market? - 19th Apr 18
Palladium Bullion Surges 17% In 9 Days On Russian Supply Concerns - 19th Apr 18
Breadth Study Suggests that Stock Market Bottom is Already In - 19th Apr 18
Allegory Regarding Investment Decisions Made On Basis Of Government’s Income Statement, Balance Sheet - 19th Apr 18
Gold – A Unique Repeat of the 2007 and How to Profit - 19th Apr 18
Abbeydale Park Rise Cherry Tree's in Blossom - Sheffield Street Tree Protests - 19th Apr 18
The Stock Market “Turn of the Month Effect” Exists in 11 of 11 Countries - 18th Apr 18
Winter is Coming - Coming Storms Will Bring Out the Best and Worst in Humanity - 18th Apr 18
What Does it Take to Create Living Wage Jobs? - 18th Apr 18
Gold and Silver Buy Signals - 18th Apr 18
WINTER IS COMING - The Ongoing Fourth Turning Crisis Part2 - 18th Apr 18
A Stock Market Rally on Low Volume is NOT Bearish - 17th Apr 18
Three Gold Charts, One Big Gold Stocks Opportunity - 17th Apr 18
Crude Oil Price As Bullish as it Seems? - 17th Apr 18
A Good Time to Buy Facebook? - 17th Apr 18
THE Financial Crisis Acronym of 2008 is Sounding Another Alarm - 16th Apr 18
Bombs, Missiles and War – What to Expect Next from the Stock Market - 16th Apr 18
Global Debt Bubble Hits New All Time High – One Quadrillion Reasons To Buy Gold - 16th Apr 18
Will Bitcoin Ever Recover? - 16th Apr 18
Stock Market Futures Bounce, But Stopped at Trendline - 16th Apr 18
How To Profit As Oil Prices Explode - 16th Apr 18
Junior Mining Stocks are Close to Breaking Downtrend - 16th Apr 18
Look Inside a Caravan at UK Holiday Park for Summer 2018 - Hoseasons Cayton Bay Sea Side - 16th Apr 18
Stock Market More Weakness? How Much? - 15th Apr 18
Time for the Gold Bulls to Show their Mettle - 15th Apr 18
Trading Markets Amid Sound of Wars - 15th Apr 18

Market Oracle FREE Newsletter

Trading Lessons

​How to Secure the Best Business Line of Credit

Companies / SME Jun 09, 2017 - 12:08 PM GMT

By: Boris_Dzhingarov

Companies

Owning a small business is an amazing venture, and an opportunity to see success in ways you never have before. It comes with a large amount of responsibility, and requires the utmost dedication to its cause. Those branching into the entrepreneurial world with their own small business will inevitably run into issues that require quick thinking, and immediate funds, to fix.


Whether you own a storefront or sell your products and services online, there will come a time when you could benefit from an immediate increase in capital. Perhaps you need inventory fast, are a few days away from meeting today's payroll requirements, need help in an emergency, or simply need to get a marketing campaign off the ground and running. That's where a line of credit can really come in handy.

Securing a large sum of money is often out of the scope of what credit cards can offer, while dipping into your personal savings can become an incredibly slippery slope. Other options, such as seeking out a separate lender, could land you with a tyrant of a loan shark. Thankfully, utilizing the internet has made it easier than ever when it comes tosecuring a small business line of credit.

​Defining the Line of Credit​

In most cases, a line of credit can range from 10,000 to over 1 million dollars with interest rates ranging between 7% to 25%. The duration of this type of loan can be as short as 6 months and as long as 5 years, but will almost always deposit your funds in 24 hours. All of these aspects depend on the company you choose as your lender, making comparing their pros and cons essential to finding a loan that works for your business.

​BlueVine​

This company is a great choice for those looking for a smaller sized loan and newer businesses. As long as you have been in business for 6 months, have a credit score of at least 600, and your business receives over $60,000 in annual revenue, then you qualify for a line of credit up to $100,000. Their APR rates range from 16% to 62%.

​Kabbage​

Withno credit score requirement, this is the perfect choice for those with lower FICO scores. Lines of credit range between $2,000 and $100,000, with APR rates from 24% to 99%. You will need to have been in business for at least one year, and receive $50,000 in annual revenue.

​Lending Club ​

If you have operated you business for a minimum of two years have an annual revenue of over $100,000, then this is the lender for you. While the minimum credit score requirement is 600, those with higher scores can take advantage of incredibly low APR rates all the way down to 8%. Plus, they will lend up to $300,000 for your business needs.

​Street Shares​

Those who have good credit but only need a small loan should look into Street Shares as they offer APRrates as low as 9%. Although, you only need a credit score of 600 to qualify, as well as $25,000 annual revenue and 12 months of steady business. You can borrow as little as $5,000 or as much as $100,000.

​Securing a Small Business Line of Credit​

When your business needs increased capital fast, a line of credit from a reputable online lender can be one of the best options available. The above examples are only the tip of the iceberg, but make for a great place to start looking as well as good comparisons to other lenders. Don't fall into the trap of using your personal finances, secure a loan for your business today and see your new funds tomorrow!

By Boris Dzhingarov

© 2017 Copyright Boris Dzhingarov - All Rights Reserved
This is an paid advertorial. Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules