Business Line of Credit in San Antonio
At River City FCU, We Understand Your Business Requires Flexible Financials. With a Business Line of Credit, you Only Pay on What You Borrow.
Entrepreneurship can present some unexpected challenges and with that, unexpected expenses. Despite the best-laid plans, you can’t always predict what your business will require. That is why a business line of credit can be the lifeline you need when capital is tight.
It can help you take advantage of sudden and unforeseen opportunities, weather emergencies, manage cash flow and even facilitate new growth. Whatever your business needs are, we’re here to offer you peace of mind. We’ve got the unpredictable covered.
So, what is a business line of credit and how does it work? This product is a smart alternative to a traditional business loan.
The flexibility of a line of credit is unmatched because, unlike a conventional lending option where you receive a lump sum and fixed repayment terms up front, you can withdraw any amount, up to your credit limit, as you need it. Once you’re approved, no payments are made until you make your first draw and you only pay interest on what you borrowed.
This type of account is not designated for any specific purchase, and no transaction is required to utilize it. You can use the funds for any operational expenses that may arise, like payroll or cash-flow support. As long as your account is open and current, the funds will be continuously be available for you to draw on.
Considered a revolving account, a business line of credit is similar to a credit card. Interest begins accruing once you draw funds, and your monthly payment amount may vary, depending on how much of your credit limit you've used. You can keep drawing up to your credit limit every time the balance is paid down, giving you the flexibility you need to access funds whenever you need them most.
The best part, though?
We offer competitive interest rates on the amount you borrow up to $50,000, making it a practical and manageable solution for your business needs.
Not only can a business line of credit improve your business today, but it can also help you build credit and better position yourself for more financing options in the future.
If you own a business in the San Antonio area and are looking for a financial product that is as adaptable as you are and can support growth as your business requirements change, talk to one of our small business specialists today.
