A business line of credit offers you more flexibility than a traditional business loan. With a business line of credit, you obtain revolving access to funding that you can use as you need it, versus a lump sum disbursement. Another benefit to having a line of credit available for your business needs is that you only pay interest on the amount of money that you borrow.
A business line of credit may also provide financial security allowing you to adapt to uneven cash flow and short-term growth needs. You can even borrow on the line of credit to take advantage of purchase discounts for quick payment. Much like a business credit card, interest begins when funds are drawn and the principal repaid is available to be borrowed again as you need it.
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