Business Lines of Credit

Experience the Freedom and Flexibility of Our Revolving Business Line of Credit

Use Our Simplified Calculator to Get an Idea of How Much Your Business Can Qualify for!

Benefits of Business Lines of Credit

At Paxton Martin Finance, we understand the importance of having access to reliable and flexible funding to fuel your business's growth and success. That's why we proudly offer Business Lines of Credit designed specifically to meet your unique financial needs. This is the ultimate solution to empower your business with the spending flexibility it needs, precisely when it's needed. Stay prepared for unexpected expenses and seize opportunities with ease.

  • Funds Available as You Need Them

  • Only Pay Interest on the Amount You Use

  • Competitive Rates

  • Customized Terms

  • Easy Application Process

Streamlined Access to Funds

We know your time is valuable. Our straightforward and efficient application process ensures a seamless experience. Once approved, you'll have ongoing access to funds without the need for repetitive applications or contacting your Financial Manager. Simply utilize the funds as required, effortlessly managing your working capital and responding swiftly to seasonal fluctuations, expansion plans, or any other business demands that arise. Apply now and the money will be there when you need it.

Pay Interest only on what you use

We believe in fair and transparent financing. With our Line of Credit, you only pay interest on the amount you utilize. Say goodbye to unnecessary interest charges on idle funds. Enjoy peace of mind knowing you have access to funds without the burden of excessive costs.

A truly Revolving line

With our Revolving Line of Credit, you gain access to a predetermined credit limit that replenishes as you make repayments. This means you can borrow, repay, and borrow again, giving you the financial freedom to address unexpected expenses, invest in growth opportunities, and manage cash flow fluctuations seamlessly.

How To Apply For a business line of credit:

If you are interested in a business line of credit, here are easy steps you can follow to apply:

Step 1: Gather Your documents

Business line of credit applicants must provide the following information and documents:

  • Valid Driver’s License

  • Voided check

  • Bank statements from the Past Three Months

Step 2: Complete the Application

The application process is fast, and you can do it within a few minutes. You can either fill out our one-page business line of credit online application. Or call us so a dedicated account manager can guide you through the process.

Step 3: Speak to a Representative

Once we receive your application, a senior account executive will contact you. We’ll review your best credit line options and offers on this call. You will get absolute transparency. There are no hidden fees or surprises. You will know precisely what loan options, rates, and terms you can expect for the business credit line financing option you choose.

Step 4: Receive Portal access to your new business line of credit

After confirming which option works best for your business, our team will provide you with contracts to finalize everything and grant you portal access to make use of the funds as you see fit. Depending on the approval amount, you may need to make a small draw to activate the line of credit. Once everything is set up, you will have access to the funds whenever you need them.

What Is a Business line of Credit and who is it for? 

A business line of credit is a flexible financing option that provides businesses with access to a predetermined amount of funds, similar to a credit card. It allows businesses to borrow funds as needed, up to the approved credit limit, and repay the borrowed amount over time. Unlike a traditional loan where you receive a lump sum upfront, a business line of credit gives you the freedom to borrow funds whenever necessary, repay them, and borrow again. It offers a revolving structure, meaning that as you repay the borrowed amount, the credit line replenishes, allowing you to access funds repeatedly. Business lines of credit are unsecured, meaning they do not require collateral.

Business lines of credit are designed to cater to the financial needs of a wide range of businesses. They can be beneficial for:

  • Small and Medium-Sized Enterprises (SMEs): SMEs often face cash flow challenges and require flexible financing options to manage their day-to-day operations, inventory purchases, and unexpected expenses. A business line of credit provides them with the necessary funds to address these needs.

  • Seasonal Businesses: Businesses that experience seasonal fluctuations in revenue, such as retail stores, tourism-based enterprises, or event management companies, can benefit from a line of credit to manage their cash flow during slow periods and prepare for busy seasons.

  • Business Expansion and Growth: Companies planning to expand their operations, open new locations, or invest in equipment and technology can use a line of credit to support these growth initiatives.

  • Service-Based Businesses: Professional services firms, such as consulting agencies, law firms, or creative studios, can utilize a line of credit to bridge gaps in receivables, cover payroll, or invest in business development.

  • Established Businesses: Even well-established businesses may encounter unexpected expenses or opportunities that require quick access to funds. A line of credit ensures they have the financial cushion to navigate through such situations.

Ultimately, business lines of credit are suitable for businesses of various sizes and industries that seek flexibility, working capital, and financial stability to manage day-to-day operations, seize growth opportunities, and address unexpected expenses.

business line of credit FAQs

  • We require a minimum FICO score of 650, at least 1 year in business, and gross revenue over $10,000/month. Also, we require an average account balance over $5,000.

  • The maximum approval for our business credit line is $500,000.

  • We offer simple interest rates under 1% per month on our business credit line program.

  • No! Our program offers no origination or maintenance fees.

  • We offer terms from 12 to 24 months.

  • No! Since this is a true revolving line, you can repay early with absolutely no penalty. Once repaid the entire line is replenished and available for when you need it in the future.

  • Business lines of credit and business credit cards both operate on a revolving basis, but they differ in crucial aspects. Business lines of credit stand out with their higher borrowing limits and lower interest rates, making them a preferred choice for larger funding needs. On the other hand, business credit cards are more suitable for smaller amounts or for those who can pay off the balance in full within a month to avoid interest charges.