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Business Line of Credit

A business line of credit works like a credit card. A lender approves an amount for the business to access, but interest is only paid on the funds that are drawn down, not the total amount available. A business line of credit can either be unsecured or secured and provides flexible, ongoing access to funds to keep your business moving.

Business Line of Credit: Eligibility Criteria

Lending criteria may vary lender to lender, so we take the time to understand what your business needs. A line of credit is similar to applying for a traditional loan, and you may be required to provide business bank statements in addition to business financial statements.

Credit Score

Bank Statements

Time in Service

Serviceability

FAQs

Frequently Asked Questions

Like most loans there may be some facility fees. Some common fees include an application fee, monthly account fees and transaction fees.
Your account will typically be reviewed every 12 months to re-assess if your business situation has changed.
It can be used for almost any business purpose including paying staff wages, covering unpaid invoices, buying urgent stock, managing seasonal fluctuations, paying suppliers and much more.
A Line of Credit is designed to give you assurance and help manage any unexpected cash flow gaps. It is often used to pay staff wages, cover unpaid invoices, buy urgent stock, manage seasonal cash flow fluctuations, pay suppliers, and manage BAS payments and late-paying customers.

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