subject: Where to Get a Business Line of Credit Online [print this page] Where to Get a Business Line of Credit Online
Doing a quick search for a business line of credit will yield you pages and pages of results from companies who all claim to be able to get you a line of credit in a very short period of time with little or no requirements. However we although this is not realistic in that there will in fact be requirements for you to get a line of credit. There are certain factors which claim to this which you should look for on any page which you are considering seeking a line of credit from.
First of all if you are looking for this, some companies will claim that there are no requirements for your credit score or revenue. Although there are loans which are available without these requirements, it is unlikely that this is what you are looking for. Because loans of this nature are typically very short-term and have high repayment requirements. Typically to get a line of credit online you must be in business for at least two years have an established personal or business credit score and have a certain minimum amount of revenue depending on how large of a line of credit you are seeking.
Companies which express this upfront and are honest about it are usually a good bet. Try to get a general impression of the company through their website and if necessary look into them through other channels such as the Better Business Bureau, user comments, etc. As always you should seek professional advice before getting into any type of business agreement online or otherwise.
This is something that many new business owners neglect to do, rush as they are simply get the funding and then start expanding their business. But this is crucial and if you neglected, you can open yourself up for many nasty surprises, the least of which can be entering into a bad agreement that doesn't serve you or your business.
Something else to consider is that if you enter into a bad agreement, you may be charged higher interest, have short time to pay it, and you may also find that it will cost you more in time and money to get out of the agreement that would have to seek professional help and have someone who is an expert look things over before you sign. While this may cost a little bit of money, it is far less than what it will cost to try and get out of the arrangement and far less than it would cost in your own mental anguish.
