About Business Line Of Credit
A business line of credit provides on-demand funding for your company. You will be authorized to borrow up to a certain amount and only pay interest on the amount borrowed. You can then draw and repay funds as you please, without exceeding your credit limit. There are many types of lines of credit ranging from unsecured, meaning that it is not backed by any kind of assets; to secured, backed on a general basis by all assets of the company, or by specific assets that are structured into the funding formula of the line of credit.