Business Line of Credit
A business line of credit is an easy and convenient way to finance short term working capital requirements of any business. This type of funding is made available to businessmen by most banks. There is normally no collateral attached to a business line of credit unless the business does not meet the minimum criteria. It is a very useful tool to cover sudden requirements of funds either to tie up raw materials or even take advantage of an opportunity that comes your way. Like a business credit card
, the business line of credit has no fixed repayment schedule only a minimum periodical repayment. This allows businesses to revolve their funds and repay at easy and convenient installments. Businessmen have a choice of paying the full amount of the principal and interest due whenever they want without having to pay a penalty for pre payment before the date of maturity. A business line of credit is normally ideal for short term financing. It is not a suitable form of financing when a business is planning to buy an asset or when the business requires financing for a period of more than a year.
Choose your Business Line of credit at Smallbusiness-creditcard.com