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Jonathan Casillas
  • Lender
  • Four Oaks, NC
41
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369
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NEED LOC? WE GOT YOU COVERED!!

Jonathan Casillas
  • Lender
  • Four Oaks, NC
Posted May 29 2015, 07:09

Line of credit functions like a credit card. You spend what you want and pay it down to be able to spend more. Average rate is between 6-9%. You get a credit card in your business' name and you can do cash advances. This line of credit helps to establish your business credit and it strengthens it so over time you will not have to rely on your personal FICO for business financing.

The questions we need answers to:

How long have you been in business? 

How much did you gross in the last 6 months and in the last year? (if applicable) 

What is your FICO range?

Any bankruptcy or things we should know about up front?

What % of your credit cards are in use?

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