Business Line of Credit
- Initial and later limits
- $2,000–$250,000 upon qualification; only select customers receive more than $150,000 initially. Eligible existing customers may request increases up to $1 million, subject to approval and possible further financial review.
- Repayment
- Each draw creates an installment loan with monthly payments over 6, 12, 18 or 24 months, subject to eligibility.
- Eligibility
- Applicant at least 18; business started at least one year ago; recent average monthly revenue $3,000 or more; FICO at least 660, with a higher score potentially required.
- Security
- Loans are secured by borrower assets and require a personal guarantee. Not all industries qualify.
- Credit reporting
- Consumer credit reports are obtained, and payment status is reported to consumer agencies according to the agreement.
Provider sources: Product and application requirements · Product terms
