Business Line of Credit

  • Credit line up to $750,000
  • Funded within 24-48 hours
  • APR as low as 6%
  • No prepayment penalties
  • Builds up your credit rating
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Credit line advisors
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Working Capital Loans

Flexibility to take funds and meet business goals.

What is a Business Line of Credit?

A business credit line is similar to a credit card or home equity line. You are approved for a fixed amount of working capital that you can utilize on an as-needed basis.

The best part of a line of credit is that you only pay interest on the capital you withdraw to use. It provides the flexibility to manage business expenses as they arise.

A credit line can be used for any type of expenditure including buying inventory and equipment, managing cash flow, and hiring new employees. Interest rates start as low as 6%.

Benefits of Small Business Line of Credit

Unlike a traditional loan, revolving credit lines allow you to borrow working capital in increments as needs arise, up to a pre-approved limit. A line of credit allows small business owners to keep operations running smoothly with the ups and downs of seasonal changes and occasional cash flow shortages.

Interest only charged on funds used

Only pay interest on the amount you withdraw from the line of credit. Unused funds do not incur any interest. Having a flexible financing option is critical to managing unexpected business expenses.

Competitive interest rates

Starting at 6%, lenders offer competitive APRs on business lines of credit. Both secured and unsecured lines are available. An unsecured credit line has no collateral requirements.

Improves your credit score

A line of credit is an excellent way to build up your credit rating. Having more credit available and not using it all makes you look good to credit reporting bureaus like Experian, Equifax, and TransUnion.

Transparent, clear terms

A business line of credit through Clarify has no pre-payment penalties. We walk you through the entire process and payment schedule so you can make a well-informed decision.

High approval rate

Business owners in any industry and credit score (both good and bad) can get approved for a line of credit. Suitable for supplementing cash flow and paying for unexpected costs. Approval process only takes 24-48 hours.

Access to funds when needed

Have complete control over your cash flow and manage unforeseen expenses. A revolving line of credit provides more flexibility than a traditional bank loan.

Who Qualifies for a Business Lines of Credit?

With Clarify, business owners in a wide range of industries can get pre-qualified. While both good and bad credit scores can secure a credit line, here is what we recommend:

1. Time in business

Your business must have been operational for at least 6 months.

2. Monthly or annual revenue

Your company should generate at least $10,000 a month ($120,000 a year) in gross revenue.

3. Credit rating

A credit score of at least 550. The better your score, the better the interest rate you will receive from lenders.

How to Get Approved for a Business Line of Credit?

Applying for a business credit line is a quick and easy process. While traditional banks have a lengthy and slow process, Clarify provides approval and funding within 1-2 days.

Step 1: Get your documents ready

To speed up the process, we recommend you get the following documents ready in advance:

  • 3 to 12 months of recent bank statements
  • 1 to 2 years of tax returns
  • Profit & Loss (P&L) statement

Step 2: Apply online

Our application takes less than 2 minutes to complete. Once you submit it, a dedicated Clarify advisor will do all the legwork for you.

Step 3: Go over lender offers with your advisor

We'll walk you through the pros and cons of each offer from lenders in our network to identify the best credit line for your specific business needs.

Line of Credit vs. Business Credit Cards

While a business credit line works similar to a business credit card, there are several key differences. A line of credit offers much lower interest rates than credit cards. Some lenders also offer longer payment terms than the required monthly payment schedule of a credit card.

Credit cards also charge extra fees for balance transfers and cash advances. If your goal is to grow your business, a line of credit is always a better, more flexible option.

Common Uses for a Business Line of Credit

We’ve outlined the top ways business owners use credit lines below. Whether you’re looking to build out your business, fill in a cash flow shortfall, or prepare for the unexpected, we’ve got you covered.

Scaling Growth:

Scaling growth often requires business owners to invest additional capital to meet the needs of a growing customer base. Pull from a readily available pool of funds to help build out your company.

Operational Expenses:

Credit lines can be used to free up cash flow, so you can take care of day-to-day expenses, like rent and utilities. That way, bills get paid on time and in full.

Seasonal Dips:

Many industries experience predictable dips in revenue. A business line of credit provides additional working capital to help you make it through a slow cycle.

Pandemic Relief:

Many small businesses have taken on additional costs during COVID, like supplying staff with PPE. Others have experienced a decline in business. If your business has been impacted by the novel coronavirus, we can help.

Inventory Buying:

Inventory and supplies need to be purchased on time, so you have the resources needed to conduct business. Cash reserves can be used to fill in short falls, allowing you to buy what you need without delay.

Emergent Expenses:

When you’re in a bind and an urgent expense comes up, having a credit line comes in handy. Having a financial safeguard keeps you protected and prepared for anything that comes your way.

Apply for Line of Credit

Frequently Asked Questions about Business Line of Credit

All types of businesses can qualify for a business line of credit - even new businesses! Get started with our online application and a lender will be in contact with you shortly to discuss next steps.
A business line of credit works similar to a credit card. You’re extended a certain amount of credit and you can keep borrowing until you hit the limit. The funds replenish as they are paid back, similar to how a consumer credit card works.
Credit lines are either secured or unsecured. If they are secured, they require collateral. Alternatively, unsecured lines do not require security or a personal guarantee.
Funds can be used for a variety of reasons, depending on need. The credit can be used as a cash reserve, in the case of an emergency. You can also use the infusion of working capital for a dedicated function, like hiring new staff or upgrading equipment, for example.

Business line of credit at a glance

  • check Only pay interest on funds drawn
  • check Draw funds as your business needs it
  • check 6 – 18-month terms
  • check Available in as little as 24 hours
  • check No personal credit requirements
  • check No pre-payment penalties
  • check Excellent way to build your credit score


  • keyboard_arrow_right 6 months in business
  • keyboard_arrow_right $10,000 per month in revenue
  • keyboard_arrow_right All types of businesses
  • keyboard_arrow_right Credit score of at least 550

Note: These are general line of credit qualifications. Other information might be considered during your application. Your dedicated Clarify advisor will guide you through it!

Alternatives to line of credit

Dedicated credit line advisors

When you choose Clarify, we consider you family -- and work with you through the ups and downs of running a small business.Clarify Capital Financing Team

keyboard_arrow_right See why business owners love Clarify

Small business line of credit

"My company gets paid by the state and it takes 60-90 days to get paid. I worked with both Michael and Bryan. We were able to leverage my accounts receivable to secure the working capital needed for day-to-day operations. I’m able to pay off the credit line with no prepayment penalties. Their line of credit program was exactly what I needed."

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New Jersey
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Ready To Grow Your Business?

Get approved for a business line of credit today and have money in your account within as little as 24 hours. APR starting at 6%. Pre-qualify without affecting your credit!