A business line of credit offers quick access to capital when you do not have the money on hand. The initial contract is set and an approved limit is agreed upon by the lender and borrower. Once the business line of credit is negotiated the borrower has access to the funds up to the approved limit without having to renegotiate the contract when money is needed.
Access the funds you need when you need them through a pre-arranged and agreed upon lending limit. With this form of financing, you only pay interest on the funds you use. A line of credit is perfect for a growing business!
When you find your balance running low, and you need access to money, consider a revolving line of credit. It allows you to pay for business expenses that you don’t have the cash for through a lending agreement with an approved limit.
Get a business line of credit and reap the rewards. Only pay interest on the portion of money that you borrow. This flexible form of financing gives you the opportunity to draw and repay funds as you wish.
Sharleen’s Mediterranean restaurant and entertainment venue was breaking sales records and had lines out the door night after night. A local magazine had just published an article raving about the restaurant and Sharleen expected even longer lines going forward.
Forecasting booming sales Sharleen had to ramp up inventory, provisions, hire additional staff, and rent one-hundred tables and chairs over the month to prepare for additional customers. Sharleen’s business was doing really well, but she didn’t have the extra funds to facilitate the influx of new patrons. She turned ALC Commercial to set up a flexible business line of credit to get her through the surge in business. She applied with ALC Commercial and was given access to funds instantly allowing her to handle the increase in business.
Through her business line of credit arrangement with ALC Commercial she was able to access up to the approved limit any time without having to renegotiate her contract. Sharleen’s business began to hit its stride and with her newly granted access to funding, on her terms, she was able to adapt to the market and grow her business without depleting her bank account. Thanks to getting a line of credit for business with ALC Commercial, Sharleen was able to take advantage of the business growth opportunity.
To arrange a business line of credit, or similarly a working capital loan, contact ALC Commercial and our friendly staff can help you set it up. The process is quick and easy and will give you fast access to cash when you need it.