Business and Personal Lines of Credit

A line of credit gives you access to funds up to your credit limit, which can be borrowed and paid back multiple times while only paying interest on the money you borrow. This is a flexible and typically unsecured way to borrow money for seasonal businesses or businesses that need help managing cash flow or handling unexpected expenses.

Pros:

• Flexible borrowing 
• Typically, no collateral required 

Cons:

• May have maintenance fee or withdrawal fee
• Good credit and consistent revenue required 

Best for:

• Short-term needs 
• Seasonal businesses to help manage cash flow