Once you’re approved for this type of business financing, the lender will provide you with a credit line. Just like credit cards, the amount you are allowed to borrow and interest rate rely heavily on your credit score, time in business, revenue, and other factors.
2
Borrow as much (or as little) as you like.
With a credit line, you can choose to borrow as much or as little as you need, up to your credit limit. Most credit lines for small businesses are somewhere in the range of $50,000 to $500,000. At Fast Business Financial, we can approve lines of credit up to $1,000,000.
3
Give your business financial flexibility.
Many small business owners prefer lines of credit over receiving a lump sum as it allows them flexibility and discretion in terms of how and when the working capital will be applied.
The Process
1
Apply Online
Apply online in just a few minutes or call us directly at (866) 277-2907 (M-F 8AM – 6PM).
2
Get a Decision
Our system evaluates your business application and typically provides a decision in minutes.
3
Receive Funds
Sign your contract and receive money in as fast as 24 hours.
Side by Side
Line of Credit vs. Term Loan: Which Is Right for You?
Simple rule of thumb: choose a term loan for planned investments (equipment, vehicles, property). Choose a line of credit for the unexpected — cash flow gaps, payroll, inventory fluctuations.
Large planned investments — equipment, vehicles, property
Structure
Revolving — draw, repay, draw again
Lump sum, one-time disbursement
Interest Charged On
Only the amount you withdraw
Full loan balance from day one
Reusability
Yes — credit restores as you repay
No — must reapply for new funds
Flexibility
Borrow as much or as little as needed
Fixed repayment schedule
The Pros and Cons of Business Credit Lines
For the convenience, flexibility, and manageable repayment terms, many small business owners see business credit lines as the preferred means of borrowing. That isn’t to say that this type of working capital doesn’t have its drawbacks — all loans do.
Before you apply for working capital or a business credit line, keep the following in mind:
The Pros
Only pay interest on the amount withdrawn.
Those with bad credit can qualify.
Steady access to working capital.
Cover most types of business expenses.
The Cons
Your lender may ask for updated financial information before releasing sizable withdrawals.
Those with poor credit scores may have to settle for higher interest rates compared to other loans.
Collateral may be required for businesses with high debt-to-revenue ratios.
What Documentation Will I Need?
Fast Business Financial has one of the most streamlined application processes in the financial marketplace. Although, in certain instances we may seek additional information in order to approve and process your loan. Some of the items we may ask you to provide include:
Tax returns (Business and personal)
Voided check from business account
FICO® credit score
Financial statements
State-issued identification
Prepared profit and loss statement
Up-to-date balance sheet
When applying for a small business credit line, be sure you have access to these documents just in case they are required.
What Business Owners Say
Real Results from Real Businesses
★★★★★
“Fast Business Financial came through for me while I was in need of capital for my upcoming week’s payroll. They were able to approve and fund me inside 24 hours and worked with me in getting the best deal possible for my business. Will be working with Joey and his team again.”
J
Joshua D.
Google Review
★★★★★
“The team here truly works fast! I send my clients to them for funding all the time and they are able to get things DONE! Very experienced and professional. Also, the best part, THEY PICK UP THE PHONE! love that about them.”
A
Arash D.
Google Review
★★★★★
“Fast Business Financial has taken care of all my funding needs for years now! Tom Simmons is my contact and he has not only given me the best the market has to offer, he has actually become a great friend. I highly recommend this firm for anyone looking for a loan or line of credit!”
O
Oriel P.
Google Review
Common Questions
Business Line of Credit FAQ
What can I use my business line of credit for? +
A business line of credit can help cover unexpected payroll and unexpected financial hurdles. You may never need it, but having a financial cushion in place will give you peace of mind knowing unexpected costs will be covered.
How much can I borrow? +
Most credit lines for small businesses are somewhere in the range of $50,000 to $500,000. At Fast Business Financial, we can approve lines of credit up to $1,000,000 — with small business owners qualifying for lines ranging from $10,000 to over $1,000,000.
Do I pay interest on my full credit limit? +
No. With a business line of credit, you can borrow up to a maximum credit limit and only pay interest on the amount of capital that you actually borrow from your credit line.
How quickly can I get funded? +
Fast Business Financial isn’t just a clever name — most businesses can apply for and receive working capital within 24 hours. Depending on the type of business you have, how long you have been in operation, and other factors, you may be able to get your funding on the day you apply.
Do I need perfect credit to qualify? +
Our business funding practices are not entirely based on your credit score, because we understand that you and your business are much more than just numbers. We look at the complete package when offering a loan.
Business Line of Credit
Working Capital That’s Always Ready
Pre-qualify for up to $750K today. Free application, decision in hours.
