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Business Line of Credit

Get Flexible financing with a Line of Credit

Looking for truly flexible financing? Then you are looking for a business line of credit. There if you need it, and under no obligation to use it, a business line of credit is the ideal safety need for your business. Available for any business need, you only pay interest on the portion you use and never on the full amount. In other words, this is the safety net you want, with the flexibility your business needs.

About Business Line of Credit

Your business line of credit is the most flexible form of financing available to you today.  Use it for just about any business cost; hiring staff, marketing costs, equipment, inventory, expansion, working capital, paying invoices, upgrading uniforms, and much more.

Another fabulous part about a business line of credit is that its revolving.  That means you can use it as many times as you want.  As soon as you repay what you have used, those new funds become available to you right away!

Overview

  • Loan Amount: $200,000 - $100M
  • Term: 1-2 years
  • Approval: 1-3 days
  • Rates: 8-24 %

Getting approved for a business line of credit is typically simple and straight forward, but there are some minimum requirements you should know about before getting started.

Time in Business At least 6 months
Monthly Revenue At least 6 months
Credit Score 580+

Documentation

  • Signed Launchpad Lending Application.
  • Bank statement.
  • Copy of Driver's License.
  • Business Tax Returns.
  • Voided Business Check.
  • Balance Sheet.
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Quick Access to Merchant Cash

Merchant Cash Advance

A merchant cash advance (MCA) or business cash advance is a form of business financing in which a lump-sum payment is given to a business in exchange for an agreed-upon percentage of future revenues or credit card sales. Merchant cash advances typically have shorter payment terms and smaller regular payment amounts than business installment loans.

While merchant cash advances can be fast and easy to qualify for, they tend to come with high payments and contingencies that the purchaser will require you to follow. Merchant cash advances are friendly for business owners with lower credit, because credit scores are not as important as sales projections when determining eligibility.

How Merchant Cash Advances Work

Small business owners can apply for an MCA and have an upfront sum of cash fairly quickly. In return for that lump sum cash advance, businesses agree to pay the MCA provider back with a percentage of daily or weekly credit card sales, plus fees, until the advance is paid in full. Because repayment is based upon a percentage of the daily or weekly balance in the merchant account, the more transactions a business does, the faster it’s able to repay the advance.

Apply

Get Your Advance

Repay a Percentage of Receipts Daily

GET STARTED

© 2022 Coldel Group, LLC. All rights reserved. 

Loans are for business purposes only and not for personal, family, or household use. This does not constitute a commitment to lend. All loans must satisfy Coldel Group and Lender’s underwriting guidelines and due diligence.

Loan amounts, interest rates and costs presented are for informational purposes only and are subject to change without notice and at Coldel Group’s and/or Lender’s discretion until such time a definitive agreement is duly executed by Lender and Borrower (and any other applicable parties). Other conditions may apply.