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Loans Made Flexible With Garrtech Funding’s Business Line Of Credit

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A Business Line of Credit Is Flexible “Revolving” Capital That Works Almost Like A Credit Card , Except You Get Access To Cash And Lower Aprs. A Business Line Of Credit Can Be The Source Of Capital For Your Wholesome Business Needs. It Is Condidered One Of The Best Solutions At Times Of Sudden Profit Opportunity Or Emergency In The Form Of Purchasing Inventory Need For Working Capital Cash Flow Gaps And Such Line. In Most Cases Smaller Businesess Qualify For Short Term Line Of Credit While Businesses With Stonger Credit Score And Finantial Track Record Qualify For Medium Line Of Credit.

Documents To Exspect

  • Valid driver licence & credit score

  • Business plan & bank statement

  • Business dept schedule & balance

  • Business & Personal Tax Return

  • Void Business Check

  • Profits & lost statement

Minimum to apply

  • Minimum 24 months in business

  • Annual revenue + $50,000

  • No second position allowed

  • Bankruptcy allowed after 3 years

  • Credit card & receivables not factor

  • Profitably is not a factor

Some stats

  • 1

    Max Loan Amount 10k to 1M

  • 5

    Loan Term 6months to 5 Years

  • 6

    APR start from 7%

  • 2

    Speed as little 2 days

A business line of credit is a limited fund set up by the lender that can be withdrawn in parts as per the business owner’s requirement.

What is a line of credit/ LOC?

Line of credit is a great option for people who do not know the exact amount of funds needed by them for a certain business. It is an arrangement between the business owner and the creditor that has a maximum limit. The business line of credit will fix an amount for the business owner that he can withdraw as per requirement. This saves both the parties from a lot of hassle because the paperwork in the line of credit arrangement is needed only once. There may be other conditions involving payment of some minimum amount every month or similar.The main advantage of business line of credit is its flexibility. Unlike regular loans, the line of credit allows the borrower to take out only the required amount of money at a time. The interest will be applicable only on the amount of money currently withdrawn by the borrower and not on the entire line of credit.A business line of credit can be made similar to a loop in which the borrower can withdraw and repay money as per his convenience while paying interest only the money currently in use. This brings in a lot of flexibility for the borrowing party while also reducing their load to a minimum. At Garrtech Funding  we are dedicated to making your lives easier and hence offer a variety of options of line of credit for you to choose from.

Benefits and difference from other types of financing

The best feature about a line of credit is that it is reusable in nature. Once the drawn fund is paid back, the amount can be redrawn.  It is also very flexible in nature. A business line of credit has the major difference with regular credit cards. It has lesser interest rates and no additional cash advances are required. Moreover, it also does not require monthly payments as credit cards do. It is also better than conventional term loans in most cases. The interest rates are lower in the line of credit but do remember if you go beyond your credit limit then the interest rates might go up. So the major difference is that term loans come with fixed interest rates. As a result, it is better to remember that term loans are good for specific business purchases while the line of credit works best for repeated cash flow issues. Fee Structure The fee is the interest you draw in from the funds. Unlike term loans, there is no need for regular repayments. In the case of assistance, please get in touch with us.

  • Interest is paid only on the fund that is drawn

  • Can be used for a variety of business purpose

  • Interest rate goes up for lower credit score

  • Collateral may be required,Accepted bad credit

  • Updated docs are required each time you draw out funds

Hi Merchant , My name's Alicia I'm the specialist in equipment financing at Garrtech Funding . We also provide Credit Cards Processing and Pos system's with the latest technologies . Don't hesitate in asking about this program.

Alicia Stone
Alicia Stone ,
Product Manager C/C

A business line of credit can be the source of capital for your wholesome business needs. It is considered one of the best solutions at times of sudden profit opportunity or emergency in the form of purchasing inventory, need for working capital, cash flow gaps and such like. Characteristics Interest is paid only on the fund that is drawn Source capital at times of need Can be used for a variety of business purpose Accepted bad credit Can be used to build a healthy credit score Turn Downs Updated documents are required each time you draw out funds  Collateral may be required Interest rate goes up for lower credit score Basics A business line of credit is a form of flexible business financing.  It acts like a credit card for your business. In other words, you pay interest when you use the credit fund.  Business lines of credit can either be secured by collateral which can be anything like machinery, inventory or receivable accounts, or it can be on personal guarantee. In the second case, it is called unsecured. Maximum loan amount is $10,000 to over $1 million Loan term varies from 6 months to 5 years Interest rates vary from 7% to 25% Approval time can be as small as 2 days For further details please get in touch with us. Requirements  In most cases, smaller businesses qualify for short-term lines of credit while businesses with stronger credit score and financial track record qualify for medium lines of credit. These are the two basic categories of business line of credit. Other than that basic requirements include Annual revenue of $50,000 , Business span of 6 months,

Garrtech Business line of credit Customers who have been approved ...

  • Annual Revenue Over $180,000 - Credit Score 630 - Time in Business Over 1 year 70%
  • Annual Revenue Over $350,000 - Credit Score 650 - Time in Business Over 4 years 50%
  • Annual Revenue Over $750,000 - Credit Score 700 - Time in Business Over 7 years 30%
  • USA SBA Loan approval 2015 - $350k to 2m 50% 50%
  • USA SBA Loan approval 2015 for existing business 60% 60%
  • USA SBA Loan approval 2015 for new business 36% 40%

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Hi Merchant , My name's Dan I'm your Funding Advisor at Garrtech Funding . I'm the specialist in Short Term Loans . We Also provide Business Cash Advance & Merchant Cash Advance . Don't hesitate in asking about this program. Get in touch with me Toll-Free 1-800-880-0349

Dan Tanga
Dan Tanga,
Funding Advisor

Hi Merchant , My name's Parvin I'm your Funding Advisor at Garrtech Funding . I'm the specialist in SBA Loans . We Also provide Business Cash Advance & Merchant Cash Advance . Don't hesitate in asking about this program. Get in touch with me Toll-Free 1-800-880-0349

Parvin Kumar
Parvin Kumar ,
Funding Advisor

Your Application Process

  • 40%
    fill the application form available on our web site
  • 60%
    we receive your application and start the qualification
  • 70%
    we request you additional docs to be sent
  • 80%
    we send your application to our underwriter
  • 85%
    we submit an offer
  • 100%
    we transfer the funds to your account

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