Business Lines of Credit

A business line of credit is a flexible financing option that allows you to borrow up to your credit limit and to pay interest only on the funds you use. Unlike a traditional term loan, where you receive a lump sum upfront, a line of credit lets you draw funds as needed, helping to manage cash flow fluctuations.

Interest rates on a business line of credit are often lower than those on personal or business credit cards, so it may be a more affordable option for managing business expenses.

Once approved (subject to credit approval), you can access your business line of credit online, allowing you to draw money as needed to cover business expenses.

Regular, on-time monthly payments on your business line of credit support a strong credit history. Adding a line of credit to your existing credit mix also helps to improve your score.

As a form of revolving credit, a business line of credit lends you money as you need it up to a set limit. By paying down the amount you have borrowed, you not only reduce your overall debt, but you open up a bigger pool of money for you to borrow from later as necessary.

Working with a local credit union like Fibre Federal means you’re partnering with an institution that understands your community and where your business fits within it. Fibre Federal is committed to supporting local businesses with affordable credit and personalized service.