A business line of credit is a loan that allows business owners to withdraw money from a set amount instead of borrowing a lump sum. Much like a business credit card, a line of credit is revolving. This means that once you pay off the funds you withdrew, the full loan amount is available again.
If you run your own business, then it’s likely there will be a time where you’re going to need access to readily available cash. You could be looking to increase staff, purchase capital goods, or grow and expand your company. If this is the case, then a business line of credit might be the best option for you.