Setting up Your Business’s Unsecured Credit Lines
Having a broad range of credit options is essential for any company, and that means more than just having the right loans when you need to make major purchases. It also means having the access to funding for short-term projects, day-to-day expenses, and other costs that can add pressure to the company budget. The solution is to manage both large and small-scale sources of debt by planning for a renewable, accessible credit source among your other offerings. Our unsecured business lines of credit are designed for just those needs.
How They Work
Typically, these credit lines are set up as business credit cards with authorized signatories designated by the company. They can also be set up as revolving credit draws linked to your existing accounts in other ways, but for most everyday purposes a business credit card will give your representatives the flexibility and spending power they need.
Business credit cards typically have rates similar to unsecured credit in the consumer industry, and like other forms of unsecured credit, those rates vary according to the borrower’s resources and credit history.
Terms and Loan Sizes
Unsecured business lines of credit from Unlimited Business Lending typically come in one of two packages:
- Startup companies with little to no visible revenue can qualify for a line that runs up to $25,000, depending on their application materials and disclosures.
- Companies with an established revenue stream between $1,000,000 and $10,000,000 are able to qualify for lines ranging between $100,000 and $500,000 with no collateral.
Find out more about business credit solutions by contacting our representatives today.