A Line of Credit that businesses can depend on

Our line of credit gives your business continuous access to working capital when your business needs it the most.

What Is a Line of Credit?

A line of credit is a flexible financing option that allows quick access to a defined amount of working capital. The way it works is a business is approved for a set amount of credit and has access to that amount through a streamlined process which allows for easy access to drawing on the approved amount when needed. The full amount does not need to be drawn at one time, your business can conveniently draw on as much or as little working capital as it needs, up to the approved amount. Businesses are only responsible for repaying the funds they used, plus any interest or other fees that may be charged.

Fixed Payments*

Automatic daily, weekly, or monthly payments are withdrawn from the business bank account, and the business only pays back the amount.

Business Loan Term Options*

Terms range from three months up to sixty months

Fast Business Funds*

Funds can be deposited into your business bank account within hours of approval

A Business Line of Credit Grants Continuous Access to Working Capital When You Need It Most

You only need 3 important things to the following 5 documents to apply.ply

A valid form of identification

Business bank account number and routing

Last three months of business bank statements

Application Process

Apply Online

Start your business application and tell us about your company, goals, and objectives. We recommend having the necessary paperwork on hand to make the process even faster (i.e. driver’s license or passport, business bank statements).

Let Us Review

Our team will carefully review your business financing application. One of our trusted business advisors will reach out if we need any additional information.

Get Funded

If approved, our team will send your business’ funds to the business bank account provided. This can be as quick as a few minutes, so be on the lookout!

Obtain Additional Funds

When ready, come back and draw on your businesses line of credit up to the approved amount.

Frequently asked questions

Is it better to get a loan or line of credit?

The type of product that is ideal for your business depends on the need for capital, the desired repayment terms, and the amount of capital needed, among other business-related factors. A loan is ideal for businesses looking for traditional financing with a higher capital amount and potentially longer repayment terms.

A line of credit is ideal for businesses that have repeated cash flow needs. It can also be used for a variety of short-term needs, such as managing payroll or covering unexpected costs. A line of credit allows you to repeatedly draw on funds, up to the maximum credit amount approved, while making regular payments to pay off only what you’ve drawn and any associated fees or costs.

With a loan, the business needs to pay back the entirety of the loan including any associated interest charges or fixed fees.

Can you withdraw cash from a small business line of credit?

Your business can draw from its approved line of credit at any time. The amount drawn will be deposited into the business bank account. You can then use the funds for your desired business purpose.

Is a line of credit better than a credit card?

Determining whether your business should apply for a line of credit or a business credit card depends on how much working capital your business is looking for, whether or not your business prefers to set terms and payments, or if your business is looking to get some perks.

A business credit card usually has a set credit limit which can be used at any time. Business credit cards also come with a set interest rate and monthly payments. Some even offer cash back. A business credit card could be useful if your business would rather get these additional perks.

A business line of credit can potentially have a higher credit limit depending on what the business is approved for. Lines of credit come with daily, weekly, or monthly payments and have set terms, which may reset on every draw. A line of credit is a great option for businesses that have repeat cash flow needs or want to have working capital ready for any opportunity. This product allows business owners flexible access to working capital.

How does a line of credit work?

A line of credit works by giving businesses access to working capital that they can use at any given time. The business is responsible for paying back the drawn amount and any associated interest or other fees. Automatic payments are withdrawn from the business bank account. Amortization can be from 3–18 months and may reset every time the business draws more capital from the line of credit.

How to get a business line of credit?

Applying for a business line of credit at BrunsWick Funding is simple and our online application only takes minutes to complete. We’ll ask a few questions about your business and request additional information, such as the owner’s information, last three months of bank statements, verification of identity, business information, and a business checking account. If approved, your business will have access to draw on the approved line of credit through our online client portal.

Line of Credit with BrunsWick Funding

At BrunsWick Funding, we’re dedicated to finding you the perfect-fit financing solutions. We’ll talk you through the best options for long-term growth while providing your business with the resources it needs to come out on top!