What happens when a business owner applies for business credit? Answer: An approval, decline or offer is dependent on the type of funder, lender or brokerage the business owner applied with.

Small Business Growth: Evaluating the Difference Between Organic and Accelerated Development Approaches.

Usually, our first-time clients don’t know that their businesses qualify for a real bank line of credit. Why is this? Our bank partners are looking to issue more credit facilities and we help our clients get placed with the right bank. Generally, 90% of our pre-approved applicants end up receiving a business bank line of credit. We see that these reasons below are the most common as to why a business won’t even apply for a line of credit.

The process of obtaining a business line of credit through Line of Credit Depot consists of 3 stages: Pre-Approval, Guaranteed Offers, and lastly Facility Activation. The entire process takes anywhere from 2-3 weeks to complete, depending on which bank approves your business as well as which bank you choose for your line of credit.

If your business goal for 2022 is to make more money, debt may be the answer. Besides increasing sales, the key to achieving this goal is to think differently about ‘making’ money and lowering business expenses. A line of credit can make your business run smoother and keep more of your business earned cash actually in the business.

A staggering 9 out of 10 Line of Credit Depot applicants have never applied for a line of credit, but they have had or currently have a merchant cash advance (MCA).

‘Best’ is a relative term. The act of a financial institution lending money means that they must take into account ‘risk’. The cost of the financing is actually an interpretation of the risk that the lender is gauging, based on the credit worthiness of the borrower/applicant.