Applying is free and will not impact your credit score.
Credit limits up to $150,000.
Pay only for what you use from your credit line.
Credit becomes available after every repayment.
Low payments with terms up to 18 months.
No pre-payment penalties.
No front-loaded interest, simple interest accrued by the day.
Quick application / same or next day approvals.
Withdraw funds as you need them without needing to apply again.
There are several advantages of revolving credit including easily available funds, financing can be secured, and you pay less interest than you would otherwise with a credit card. Before we dive too deep into this, what exactly is a revolving line of credit?
A revolving line of credit is an open-ended term loan that allows you access to a specified amount of capital as needed up to your credit limit. While it is similar to that of a credit card, a business revolving line of credit does not report on your personal credit as debt.
Other advantages of revolving credit are they can be used for companies and seasonal businesses that experience ebbs and flows throughout the year.
Whether your company experiences seasonal highs and lows or has gaps between completed service and payment, you will find that a revolving line of credit can assist. For example, if you receive a large influx of orders and need to purchase inventory, a revolving line of credit allows you to do so.
Readily Available Funds – One of the largest benefits of having a revolving line of credit is that the money is available to your business whenever you need it. There is no approval process; you have access to your existing line whenever you need to borrow.
Your Finances Are Secure – Various revolving lines of credit can be an asset for the purpose of lowering interest rates. Differing from credit cards, revolving lines of credit can be secured based on your company’s equipment, inventory, and other assets.
Lower Interest Rates – While there are many factors the are involved in securing a revolving line of credit, including your credit score, you can lower your interest rates by paying off your line of credit draws early.
To learn more about the advantages of revolving credit, make sure to contact the Strong Capital Funding team today.