What is a Business Line of Credit?

A Business Line of Credit is a flexible funding option that allows you to borrow up to a certain limit and only pay interest on the amount you use.

Who is eligible for a Business Line of Credit in NJ?

Normally, qualification involves having a good credit score, elaborated business plan and having a steady source of income. Lenders will also consider your business’s financial history.

What can I use a Business Line of Credit for?

A Business Line of Credit can be used for operating expenses, buying goods and raw materials, emergencies, and to finance a project for a short term.

What are the differences between a Business Line of credit and a traditional loan?

Different from a loan, where the borrower is given a lump sum and pays back with equal monthly payments, a line of credit lets you borrow money as you need and only pay interest on the money borrowed.

What are the typical interest rates for a Business Line of Credit?

Interest rates for a Business Line of Credit vary based on the lender and your credit scores, but they are generally variable and can change over time.

Business Line of Credit

Address: 2032 Park Ave, Hainesport NJ 08036

Phone: 201.203.0517

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At Desilending, we are offering loans to small businesses in New Jersey with the funding they need to thrive and expand. Our supportive and dedicated team is here to streamline the loan application process.

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