About Business Line of Credit
When flexibility is a priority, consider a business line of credit. You can get anywhere from $100,000-$500,000,000 and the money is typically available in 2-5 business days. The rates vary from 3-9%, and the financing usually comes with a 1-5 year maturity.
Think of a line of credit as a financial safety net for your business. It’s there if you need it, but you’re under no obligation to use it. And when you do tap into it, you can use it to cover almost any business need. Plus, you only pay interest on the funds you use, not the full amount. In other words, it’s as flexible as a double-jointed yoga teacher.
Business line of credit benefits with GXT Global
- Simplified Documentation
- Loan Disbursal in 2-5 business days
- Transparent Processing
- Competitive rate
To get your business line of credit, you’ll typically need to be in business at least 6 months and have $50,000 or more in annual revenue.
Features and Benefits of Loan
Application Grant Rate - 97%
97%
Popularity
A business line of credit is revolving, so rather than receiving a lump sum, you can access the money as many times as required. There’s no pressure to dip into the money, but it’s always there. Whether you’re using it to purchase equipment, add inventory, hiring staff, expand to a new location, pay invoices, or add a vehicle to your fleet, you’ll only pay interest on the exact amount of money you use. To get your business line of credit, you’ll typically need to be in business at least 6 months and have $50,000 or more in annual revenue. You’ll also need a credit score of 400 or higher. GXT Global may ask you to make a personal guarantee, which is an agreement that GXT Global may be able to levy personal assets such as a car, house, or bank account if you default on the line of credit. Age Maximum age of applicant at loan maturity: 60 years Income Minimum Net Monthly Income: $ 50,000 Credit Rating Applicant should have the specified credit score of 400 or higher
