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Line of credit


If you are planning an important business project or venture or if you have some unexpected expenses, line of credit might be the right solution for you. Line of credit should not be confused with loan. Setting a line credit today can enable you to start your dream project or help you deal with (un)planned expenditures.

 What is a Line of Credit?

Line of credit (LOC) is an arrangement between financial institution and a customer that establishes the maximum loan amount that customer can borrow. The borrower can access money "on demand" at any time. What that means? Line of credit is type of revolving credit that does not have a fixed number of payments, unlike the installment credit. You can borrow money, repay it, and borrow it again. Interest is paid only on the money that is actually withdrawn. Lines of credit are extended by banks, financial institutions and other licensed lenders to creditworthy customers.

 How the Lines of Credit work?

 Lines of credit consist of a set amount of credit, depending on your credit score. The interest rate, size of payments or any requirements are set by the lender. With loan you get a lump sum that is repaid over time with a set number of payments. Also you start paying interest immediately regardless when you actually use the money.
In contrast, line of credit gives you access to funds at any time as long as they don't exceed the maximum amount and you don't pay any interest until you borrow some money.

 Conclusion

 When you are looking to take your business to the next level line of credit can be a smart option for you. This type of loan is designed to fund all kind of financial needs you may encounter in your business and create more consistent cash flow. The main advantage of LOC is flexibility. You can't always predict your costs and that is why line of credit might be the best solution for your business because you can tailor the spending to your needs. Additional benefit is that you only pay interest on the amount you borrow. 

 With Emry Capital you can get approval as fast as 20 minutes and access the cash quickly whenever you need it. We offer you lines of credit up to $250,000 with rates low as 4.8%
How Emry Capital Line of Credit Works:

 1. Apply Online 
Provide us basic information about your business and get approved in as fast as 20 minutes.

2. Draw funds 
Use your online dashboard to request funds, and get cash in your bank account within hours.

3. Make repayments
Pay back each draw with fixed monthly or weekly payments over 6 or 12 months.

4. Access more funds
As you pay off your balance, your available credit is automatically replenished.

What you need to get started:
Minimum qualifications
  • 550+ FICO
  • 5+ months in business
  • $100,000 in revenue
What you need to apply
  • Basic details about you and your business
  • Bank connection or 3 months most recent bank statements

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Location: West Palm Beach, FL, USA

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