BUSINESS LINE OF CREDIT

When a company or small business is in need of reliable and consistent cash flow, a good business loan is a business line of credit. With a business line of credit you will only start paying interest on the amount you withdraw starting from the withdrawal date. You will also only be required to start making payments towards the principal amount after a set date. This gives businesses time between actually spending the money and when it is time to start paying it back. This will give a business time to buy inventory and not pay until the sales start coming in. Or you can use a business line of credit for large expenses aimed at growing your business in the long run. It allows you some breathing space to actually start making larger profits due to your new growth thereby enabling you to pay back the business line of credit. With a business line of credit there is a borrowing limit which means there is a cap to how much money you can borrow. This borrowing capacity is decided based up on a credit review that is done annually. A business line of credit is similar in many ways to a business credit card. There is a credit limit, you only pay interest on the amount owed, and payments only begin when the borrowing starts. There is no lump sum payment with a business line of credit. Speak to a loan officer at Tamp Business Loans today to find out if a business line of credit is right for you.