Business Lines of Credit

What is a business line of credit, why would you want one and how can Riverpoint Capital help?

Businesses of all sizes take out business lines of credit to ensure access to short-term funding on an on-going basis. Unlike a traditional term loan, business lines of credit are on-going, providing access to a fixed amount of capital that can be drawn upon at the holder’s discretion. Business lines of credit offer the flexibility to withdraw only what you need, when you need it, making sure you are prepared for upcoming challenges. Best of all, you only ever pay for what you use.

Business lines of credit are revolving, meaning you can use the funds, pay it down, and then use the credit immediately after. If you carry a balance, you have a minimum payment but only pay interest on the portions of the line you borrow.

Why choose a business line of credit over a small business loan, business credit card, or equity financing? Small business loans can be great tools, but you must reapply each time you want to use more money. When businesses need money, they need it now. Having to wait on a reapplication process can mean the difference between making payroll, investing in new equipment, or taking advantage of a new opportunity — or not.

Riverpoint Capital has offices based in New York, NY and Hollywood, Florida to assist business owners obtain a line of credit for their business. Contact us to learn more about specific borrowing limits, interest rates, and possible draw fees.

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