What is a Business Line of Credit?
A business line of credit can be a valuable financial tool that provides flexibility and stability to a business. Unlike a traditional loan, a line of credit gives businesses access to a predetermined amount of capital that they can draw upon as needed. This helps businesses address short-term cash flow gaps, manage unexpected expenses, or seize new opportunities.
You re-pay what you use and once repaid you can use it again and again. With a business line of credit, businesses only pay interest on the amount they draw — making it a cost-effective financing option.
How It Works
- Revolving Credit: Like a credit card — draw funds, pay them back, and re-draw as needed within the credit limit.
- Interest & Fees: You pay interest only on the drawn/used amount.
- Payments: Typically involves minimum monthly payments on the used portion.
Used For
- Managing seasonal cash flow dips
- Covering unexpected operating costs
- Bridging gaps before larger business payments arrive
- Quick deal opportunities that present themselves unexpectedly
GGA strongly believes a Line of Credit is a MUST for all businesses — large, medium, and small. Having access to capital at a moment's notice is extremely important. Why not have it ready even before you need it?
Two Types Available Through GGA
- Asset-Based (Secured): Backed by collateral (real estate, inventory, receivables). Easier approval, higher limits, better rates.
- Unsecured: Based on creditworthiness and business revenue stability. No collateral required. Typically requires FICO 600+.
Prerequisites
Applying requires 4 months of recent bank statements, tax returns, and business info (EIN, revenue, years in business).
Terms can be flexible given we have several types and options tailored to you and your business.
Will not affect your business or personal credit scoreBenefit from our extensive knowledge, decades of experience and resources to help your business reach its next level of success.