Business Line of Credit
Access fast, flexible working capital with a business line of credit.
Covenant Advance Business Lines of Credit
A Covenant Advance business line of credit provides fast, on-demand funding. With credit limits ranging from $6,000 to $200,000, it allows you to draw what you need, when you need it,◊ and receive funds within seconds.* Because of its flexibility, a business line of credit from Covenant Advance is ideal for covering operating expenses, smoothing cash flow gaps and funding short-term opportunities.
- Revolving lines of credit from $6K - $200K
- Flexible repayment terms of 12, 18 or 24 months
- Customizable weekly or monthly payments
What is a business line of credit?
A business line of credit is a flexible funding option that allows you to draw funds from a set credit limit. The funds are typically deposited as cash in your business checking account. You can draw as much or as little as you need◊ up to your approved credit limit — and you’ll typically only pay interest on what you borrow. Similar to a business credit card, as you repay a revolving line of credit, the funds become available to borrow again.
Because of these features, business lines of credit can be a great financing option for managing cash flow and funding long-term projects. They can also act as a safety net, ensuring you have access to working capital in the event of an emergency expense or surprise opportunity.
Running a business takes money, and a business line of credit from Covenant Advance gives you ongoing access to funds right at your fingertips.
why choose us?
Benefits of a Covenant Advance Line of Credit.
- Only pay for what you borrow
- Instant funding
- Build business credit history
Withdraw what you need, when you need it. You’ll only be charged interest on the funds you draw.
Best ways to use a business line of credit.
A business line of credit is a smart way to stay ready for what’s next. You’re in control of when and how you use it — making it a great way to manage day-to-day expenses and taking advantage of opportunities without taking on more debt than you need. A line of credit can act as a safety net, but it can also help you move your business forward with flexibility and control.
Here are a few of the best ways small business owners use a line of credit:
Buying extra inventory.
Prepare for the busy season by purchasing extra inventory without disrupting your cash flow.
Taking on bigger clients.
Get the working capital you need to cover upfront costs when taking on a big client or job.
Bridge payroll gaps.
Pay your team on time, even when you’re waiting for invoices to be paid.
Investing in marketing.
Test a new marketing strategy to reach new customers.