Why Choose us for your Business Line of Credit Loans?
No matter how much you plan and try to manage your cash flow, there comes a time when things may get tight and difficult. At times like these, Greenline Home Loan can supply you with a business line of credit loan to help bridge the gap in your cash flow and keep your business moving. Business lines of credit are a type of business loan that is designed to support short-term funding requirements for businesses. Once your business loan is approved, you can gain access to funds that are ready to be withdrawn. Greenline Home Loans will guide you through the entire business loan process and provide you with any financial advice you need for your future.
Managing your cash flow within your business can be very difficult. Therefore, having the right resources can save you loads of time, effort and money in the long run, so it is very worth having a deeper understanding of what is available on the market and the benefits provided by the various business line of credit loan features.
Interest-Only Payment Option
A business line of credit gives you payment flexibility by offering interest-only payment options. With an interest-only loan, you only repay the interest charges on your loan and not the principal.
No Set Term
There is no set term on the facility of a business line of credit loan. With an ongoing limit and no fixed term, you simply have to make sure that you are meeting your interest payments.
Flexibility To Access Funds
With a business line of credit loan, you have the flexibility to access the funds as you need them and have the ability to draw down the line of credit at your discretion. You have easy access to your funds via internet banking, credit card or chequebook, with all of your income and expenses running through the same loan facility.
Maintains A Good Credit Score
By employing a line of credit, you are able to preserve a good credit score. Although, you need to ensure that you continue to make your payments on time and keep a low account balance. This will also boost your business’ creditworthiness in the eyes of lenders.
Do you need a business line of credit loan?
Get started on your business loan and commercial loan journey with Greenline Home Loans. We’re here to help! Speak to one of our professional mortgage brokers today.
Business & Commercial Loans
Overdraft Facility Loans
An overdraft facility is effectively a line of credit provided by your banking institution, which is an extension of your daily transaction account. This facility permits you to draw further funds from your account at the point where there are no more available funds, allowing you to gain quick access if you are experiencing cash flow issues.
Invoice financing involves the use of your receivable invoices as collateral for a loan. This type of loan is designed to support businesses with their cash flow cycle. Qualifying for invoice financing is much easier as your receivable invoices act as collateral, and accordingly, your business credit rating is not that important.
Merchant Cash Advance Loans
A merchant cash advance is a type of business loan that provides a lump sum loan in exchange for a percentage of credit card transactions. This business loan is suitable for business owners in need of liquidity who cannot demonstrate good credit, or are simply not trading for a long period, and cannot qualify for other types of business loans.