Which Unsecured Business Line of Credit Is Best for Your Business

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Wednesday, September 16th, 2015

Access to cash is essential for any business to survive. Unfortunately, access to cash on demand is not always possible without outside financial assistance.

For small business owners, receiving an unsecured business line of credit is an ideal solution that provides needed cash on hand whenever the complexities of running a business throw a curve your way. Every business owner requires access to funding – whenever they need it, at a competitive rate and with flexible repayment options.

For small businesses seeking financing, there are two main types of unsecured business lines of credit one needs to consider: traditional and non-traditional. So how do you determine which one is the best choice for your business?

The traditional unsecured business line of credit issued by a bank requires a substantial amount of documentation to qualify. This documentation includes financial statements, personal tax returns, business tax returns, bank account information, business registration documents, and more, depending on the lender.

Once a traditional credit line has been issued, an annual financial review is required to maintain the line of credit. A traditional credit line offers various benefits such as check-writing privileges. However, it tends to be the most difficult line of credit for borrowers to obtain and to maintain.

Where Can I Apply for an Unsecured Small Business Line of Credit When My Bank Denies My Application?

National Business Capital is an alternative lender. We are not a bank and therefore do not have as many restrictions. Our lending criteria is more “user-friendly” and our loan approval and processing is fast. We extend small business lines of credit to over 90% of the applications we receive even if their banks have turned them down.

A non-traditional unsecured small business line of credit is an essential funding tool for any business to have in its financial arsenal. Call National Business Capital at (888) 888-9124 to discuss how alternative funding with an unsecured small business line of credit may be right for you and your business.

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