You can get a revolving line of credit for your business by following these simple steps:
Evaluate your business’s qualifications (time in business, annual revenue, credit score, collateral).
Compare your line of credit options. Consider short-term vs. long-term, bank lines of credit vs. online lines of credit, and secured vs. unsecured lines.
Find a lender with the product you’re looking for and whose requirements you can meet.
Gather the necessary documentation and fill out an application.
Submit your application and complete the closing process.
Luckily, most business lines of credit are, in fact, revolving lines of credit—so you’ll have a variety of options to consider. Plus, unlike some other forms of business financing, lines of credit can be much more flexible—meaning there are also options for newer businesses and those with average credit.
Use our guide for more information on how to get a business line of credit.