Business Line of Credit

Getting the Best Rates and Terms

Are your business plans stalled due to a lack of funds? A business line of credit can help cover unexpected payroll and unexpected financial hurdles. You may never need it, but having a financial cushion in place will give you the peace of mind in knowing unexpected costs will be covered.

At Solar Capital Group, we understand the importance of small businesses having reliable access to working capital. In fact, by Small Business Administration estimates, over three-quarters of small businesses rely on credit to grow their business.

Before you shop credit lines for your business, read this guide. Solar Capital Group puts it all into perspective, and this guide will help you to qualify, apply for, and get the best terms and rates on a business line of credit.

Current Rates and Terms

Solar Capital Group skips the brokers, banks, and boards to offer some of the best rates on business lines of credit.

Borrow from Term lengths APR
$10,000 to $1,000,000+ 26 weeks to 5 years 7% to 25%

What are Small Business Lines of Credit?

Think you don’t know anything about small business lines of credit? There’s a good chance you already have something similar to this borrowing tool in your purse or wallet. A business line of credit operates along the same lines as a credit card — albeit one with better rates, terms, and a higher spending limit.

Only pay interest on withdrawals.

Once you’re approved for this type of business financing, the lender will provide you with a credit line. Just like credit cards, the amount you are allowed to borrow and interest rate rely heavily on your credit score, time in business, revenue, and other factors.

Borrow as much (or as little) as you like.

With a credit line, you can choose to borrow as much or as little as you need, up to your credit limit. Most credit lines for small businesses are somewhere in the range of $50,000 to $500,000. At Solar Capital Group, we can approve lines of credit up to $1,000,000.

Give your business financial flexibility.

Many small business owners prefer lines of credit over receiving a lump sum as it allows them flexibility and discretion in terms of how and when the working capital will be applied.

How to Qualify

Generally speaking, most financial lenders only offer their best rates and terms to those with FICO® scores of 680 or better. If you are looking to take out a business line of credit but bad credit is giving you second thoughts, we have some great news for you.

Credit Lines up to $1 Million

Solar Capital Group isn’t just a clever name. Most businesses can apply for and receive working capital within 24 hours. This is just one of the many perks in choosing Solar Capital Group. You can use your small business line of credit to:

  • Cover unexpected expenses
  • Build a financial buffer
  • Finance business opportunities
  • …and more

Working with Solar Capital Group, small business owners can qualify for lines of credit ranging from $10,000 to over $1,000,000.

To discuss your business’ needs, call Solar Capital Group at 888-401-5199 to speak with a lending specialist. When you are ready to apply, simply use our online loan application. A few minutes of your time might get you some of the best rates and terms on a small business line of credit.

The Pros and Cons of Business Credit Lines

For the convenience, flexibility, and manageable repayment terms, many small business owners see business credit lines as the preferred means of borrowing. That isn’t to say that this type of working capital doesn’t have its drawbacks — all loans do.

Before you apply for working capital or a business credit line, keep the following in mind:

The Pros
  • Only pay interest on the amount withdrawn.
  • Those with bad credit can qualify.
  • Steady access to working capital.
  • Cover most types of business expenses.
The Cons
  • Your lender may ask for updated financial information before releasing sizable withdrawals.
  • Those with poor credit scores may have to settle for higher interest rates compared to other loans.
  • Collateral may be required for businesses with high debt-to-revenue ratios.