Business Line of Credit

What is business line of credit?

Business line of credit is a credit limit that a business can use to secure funds. It is typically offered by banks, or other lenders, and is one of the common ways that businesses use to access funds when needed. A business line of credit provides flexibility for businesses to withdraw funds as needed, and interest is only charged on the amount used. This form of loan is an important means through which many companies raise operating capital.



A business line of credit is a revolving account, similar to a credit card, where you can use, repay, and reuse the amount repaid. Interest is charged only on the amount used for the period it was used. However, eligibility and loan terms vary for each program. We offer 3-5 business line of credit programs, each with its own conditions and guidelines. Among them, the bank line of credit offers favorable terms, but the eligibility criteria and process may differ. Please apply for a free approval that does not damage your credit.

1. Bank Business Line of Credit Programs:

Currently, you can receive 1-3 pre-approvals from over 7 banks at once. The interest rate is Prime (currently 8.5%) plus 1-5%. Since it is a variable interest rate, the interest rate can change each year based on the Prime rate. The term varies depending on each bank or individual approval, but it can range from 1 to 5 years. After the term ends, the remaining balance may be converted to a term loan (1-5 years). The longest repayment period is 10 years; 5 years for the line of credit + 5 years for the term loan. During the line of credit period, you only need to pay interest monthly, while for the term loan, you repay the principal and interest over the period.


There is a one-time fee, but there are several advantages compared to other programs. You can secure funds at a low interest rate, use only the amount you need, pay minimum interest only, and continue to use and repay it like a credit card.


  • Each bank offers loan amounts ranging from $25,000 to $250,000
  • Variable annual interest rate: Prime + 1%-5%
  • Repayment period: Revolving 1-5 years + Term loan 1-5 years
  • Monthly payment: Minimum interest only
  • Ability to use only the desired amount when needed
  • Can be used, repaid, and reused like a credit card
  • One-time fee after closing
  • It can be converted to a term loan at the end of the term 
  • Unsecured Loan
  • processing time: 3 weeks – 7 weeks

* What is prime rate?

The prime rate in the United States refers to the basic interest rate applied by banks when lending to the most creditworthy companies. The U.S. prime rate is mainly based on rates announced by leading U.S. banks such as Wells Fargo, Chase, and Citi. These banks typically lead the economy and hold important positions in the financial market, so the prime rates they announce influence the overall interest rate trend in the market. Therefore, the U.S. prime rate has a significant impact on both domestic and international financial markets and is used as the benchmark rate for various financial products such as mortgages and corporate loans.

          Basic Eligibility Criteria:


  • Business in operation for at least 2 years
  • Personal credit score of 700 or above
  • Tax returns showing annual revenue of $350,000 – $10,000,000
  • Tax returns showing a net loss less than $100,000
  • U.S. permanent resident or citizen only
  • Excludes certain states: LA, HI, AK, AR, MT, MS
  • No criminal record
  • No outstanding judgments or tax liens
  • Bankruptcy must be at least 7 years old
  • Excluded industries: Gambling, Bail bond, Pawn shops, Non-profits, Farming & Car dealers

                 Documents Required for Pre-approval:


    • Previous year’s business tax returns
    • Business bank statements for the last 3 months
    • Driver’s license
    • Application form

2. Non-Bank Business Line of Credit

You can use it as needed within your credit limit and repay the principal and interest over a set period. The repaid amount can be reused. Conditions and guidelines vary for each program. It takes about 2-3 days from pre-approval to deposit.

  • Business revolving credit
  • Open an online account
  • Approval in 1-2 days, deposit in 1-2 days
  • Use as needed for the desired amount
  • Repayment of principal + interest
  • Repaid amount can be reused
  • Interest is only for the period used
  • Early repayment only requires repayment of the remaining principal


         Required documents for Pre-approval:


  • Bank statements for the last 3 months
  • Application