What are the pros and cons of a business line of credit?

Pros

• Lukewarm credit OK
• A good credit building tool
• Only pay interest on the funds you use
• Quick and convenient access to cash
• Can be used for any purpose

Cons

• Updated financials may be required
• Lender can close the line of credit at any time
• Collateral may be required
• Poor credit equals a higher interest rate

At Big Think, we can help you structure the best loan for your needs. If you’re confused or need clarification about the qualifying requirements for a loan, please contact us. We’ll be happy to help.