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Business Line of Credit2022-11-28T15:54:45+00:00

Business Line of Credit

Elevate Your Business With a Line of Credit

A flexible credit line, usually with a bank or other financial institution, which can be used for any purpose up to the maximum loan balance.

Big Think Capital BBB A+ Rating
Certified Small Business Financial Professionals

APPLY IN MINUTES – WON’T IMPACT YOUR CREDIT SCORE

all fields required

Name(Required)

Lines of credit from

$10k – $1m

Term as long as

5 years

Rates as low as

7%

Decisions as fast as

24 hours

On-Demand Access to a Revolving Line of Credit

Small business lines of credit are very popular with small businesses, as they are extremely flexible. Where most other types of loans require you to reveal and commit to using the funds for a particular purpose, a line of credit can be used towards anything for your business needs.

No application fee

No prepayment penalties

Funds available on demand

Financing that grows with you

Get Started with a Business Line of Credit

Provide basic information about your business. If approved, you can request funds and receive them in your account in as fast as 48 hours.

Minimum qualifications

  • 6+ months in business

  • $50,000 in yearly revenue

What you need to apply

  • Basic details about you and your business

  • Bank statements for past 3 months

  • Business is in good standing

Start your application & secure the
funds your business needs today

Apply and Get Funded

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Frequently Asked Questions

How soon can I see my lending options after submitting an application?2022-09-26T20:09:14+00:00

The sooner you fill out an application, the sooner you’ll be able to see your lending options. Once it is submitted, you’ll receive lending options tailored specifically to your needs within minutes. Speak with a loan specialist today for more information.

What kind of information do I need to provide on the application?2022-09-26T20:26:37+00:00

In order to gather the best lending options for you, Big Think Capital requires basic personal information related to your finances, including your name, the name of your business, your address and some simple financial information.

If I have bad credit, can I still apply?2022-11-04T14:42:01+00:00

Yes, we welcome people with all different credit scores to apply. Big Think Capital will work with you to find a lending option that suits your needs regardless of your credit history.

How will my credit score impact my lending options?2022-09-26T20:27:53+00:00

At Big Think Capital, we understand one of the major problems business owners encounter is rejection due to credit history. We seek to fix this problem by helping you find a lending option that works. Whether you have good credit, bad credit, or no credit, we’ll help you find a solution. Apply now.

How soon can I receive funding?2022-11-04T14:42:32+00:00

You can receive funding as soon as 24 hours after applying, so why wait? Get started now.

Will it impact my credit score to fill out a Big Think application?2022-11-04T14:42:11+00:00

Unlike when you apply for a new credit card or a loan, filling out a Big Think Capital application will not result in a hard inquiry on your credit, so go ahead and get started on your application worry-free.

I have questions. Who can I contact for help?2022-11-04T14:42:18+00:00

Reach out to us at info@bigthinkcapital.com or call 844-200-7201 for help and we’ll be quick to respond as soon as we can.

What is a business line of credit?2022-09-20T21:48:00+00:00

A business line of credit is a type of credit account that you can borrow against, up to a set dollar limit. Once you’re approved for a line of credit, you can access the funds as you need them by making withdrawals (called “draws”) against your account. You can draw as many times as you like, as long as your outstanding balance doesn’t go beyond your account’s available credit limit.

Is a business line of credit easy to get?2022-09-21T18:28:55+00:00

The days when a bank would lend to small businesses on the strength of a good business plan are gone. While private investors may still take on that kind of risk, financial institutions do not. It would be much more accurate to say that ‘Lines of credit are relatively easy to get – if you have collateral’. No bank or large financial institution will give you a line of credit unless you have some easy to liquidate asset such as real estate.  In addition, your credit score and business cash flow will be taken in to account.  Finally, most lenders will require that you have been in business for at least 2 years.

What can I use a business line of credit for?2022-09-20T21:51:54+00:00

A Business Line of Credit can be used for almost any business need, including covering operating costs during the slow season, paying for recurring expenses and preparing for a new project. A line of credit can also be saved, undrawn on, to help with emergency expenses if they come up.

Examples could include:

  • Cover business expenses while awaiting payment for products or services rendered
  • Purchase of inventory prior to an anticipated busy season
  • Quick cash for emergencies in any business
How does a business line of credit work?2022-09-20T21:50:15+00:00

Business lines of credit are similar to business credit cards, both allowing small businesses to access funds when needs arise instead of the lump sum a business loan would provide.

Interest rates on business lines of credit are typically lower than those of a business credit card. Lenders set credit limits and interest rates based on factors like how long the current owner has been in place and what the company’s annual revenue is. A line of credit typically requires renewal annually.

What are the different types of business lines of credit?2022-09-20T21:49:00+00:00

Business lines of credit may be secured or unsecured, and either closed or revolving.

Secured business lines of credit generally require collateral, while unsecured business lines of credit are approved based on your personal and business finances and creditworthiness.

Similar to a credit card, revolving lines of credit let you pay down and borrow against a replenishing credit limit multiple times, whereas closed lines of credit mean that your total available funds are dispersed in full to you at the start of the loan term.

Currently, a Business Line of Credit through Big Think Capital is unsecured and revolving, which is a relatively common option for small businesses.

What are the pros and cons of a business line of credit?2022-11-15T16:08:01+00:00

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.

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.

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