Small Business Line of Credit

Written by True Tamplin, BSc, CEPF®

Reviewed by Editorial Team

Updated on March 05, 2023

A business line of credit is like a credit card that lenders provide to businesses.

Small businesses can take advantage of them as well but may be charged more interest if they have a limited credit history.

However, many lenders offer favorable rates even to very young businesses.

Line of Credit for Small Business

One option for a line of credit that is ideal for small businesses is a secured line of credit.

If you have property or real estate that you would be willing to secure the LOC with, you may be able to get a higher credit limit and lower interest.

Other options include online lenders, who typically have lower credit requirements.

Small Business Line of Credit FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

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