Best startup business lines of credit.
Empower your startup with flexible financing solutions.
How a business line of credit works.
Benefits of a line of credit.
2. Interest on borrowed amount only – Unlike traditional loans, with a business line of credit for a new business, you pay interest only on the amount you borrow, not on the entire credit line.
3. Easy access to funds – A business line of credit for startups provides quick and easy access to funds, ensuring you can meet your financial needs promptly.
4. Builds business credit – Regular and responsible usage of your line of credit helps establish and enhance your business credit score, facilitating future financing.
Line of credit options for startups.
OnDeck – Line of Credit
Headway Capital – Line of Credit
Fundbox – Line of Credit
Minimum requirements for a startup line of credit.
*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
How much can I qualify for?
Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.
How to apply for a startup business line of credit.
Tell us about your business.
Answer a few simple questions and complete the application in minutes.
Submit your application.
We’ll present your application to our marketplace 75+ lenders. Applying is free and won’t impact your credit score.
Compare offers.
Find the funding option with the terms that best fit your small business goals.
Get funded.
Once you accept, funding can hit your bank account in as little as 24 hours.
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FAQs
Find answers to some commonly asked questions about business lines of credit for startups.
A business line of credit, ideal for startups, is a flexible lending option that functions much like a credit card. It provides businesses with a predetermined credit limit, and they can draw funds as required, up to the stated limit. Interest is charged only on the drawn amount, not on the entire credit limit. It’s a revolving source of funds, meaning once you repay the money you’ve borrowed, that amount is again available for you to use. It’s an excellent way to handle unexpected expenses, manage cash flow, or fund small projects.
While you will need at least some time in business under your belt before you will qualify for a line of credit, there are lenders that will work with businesses that are six months to one year old that meet minimum monthly revenue and credit score requirements.
An unsecured business line of credit does not require collateral, making it a desirable option for startups. However, it’s important to note that lenders typically require a higher credit score for unsecured credit lines, and interest rates may be higher compared to secured options. Always carefully read and understand the terms before proceeding with any kind of credit line.
A business line of credit for startups can be used for a variety of operational expenses, such as purchasing inventory, covering payroll, and handling unexpected costs or emergencies. It’s also an excellent resource for taking advantage of business growth opportunities such as expansion, marketing campaigns, or new project launches. The versatility of a business line of credit makes it a valuable financial tool for startups.
Ready for funding?
See what you can qualify for on the Lendio Marketplace.