A Quick & Easy Way to Get Funds for Sudden Expenses & Cash Flow Needs Without adequate cash flow, your small business may lack the capacity to pay your suppliers. Besides that, negative cash flow seriously affects your business' credit rating, erodes the competitive advantage, & eventually makes your business insolvent. Line of Credit is one of the most popular funding options among business owners to access money to address various cash-flow issues & other short-term situations where you need quick access to extra capital.

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Customize a business line of credit according to your financial needs

This sought-after funding can be used to finance capital expansion, purchase inventory, or deal with negative cash flow situations. Unlike traditional business loans, you have the flexibility to borrow a predetermined amount of funds. At Smansha lending marketplace, we help businesses compare different lines of credit & secure the best business line of credit fitting the need.

Loan Amount $1,000 – $500,000

Loan Term 1-2 years

Interest Rate 8% to 24%

Security Often require collateral

Funding Time 1-2 weeks

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Why Consider a Business Line of Credit?

A business line of credit is a great funding option for small business owners as it provides flexibility that a regular loan doesn't.

We Work With Top Alternative Lending Partners to Support Small Businesses with Financing

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How it works?

Sign UpSign up on our secure & innovative lending platform for a variety of funding options.

Get ApprovedCompare different loan offers & accept the one that bests fits your business needs.

Receive Your FundsReceive the approved funds in your business account within 24-48 business hours.

Make PaymentsA fixed payment is automatically debited from your business bank account.

Make smarter decisions about your business line of credit by comparing funding offers from multiple lenders at Smansha


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FAQs

Applying for a business line of credit with Smansha is super easy & quick. Sign up with our innovative & secure lending platform, fill out some required information about your business, and once approved, receive funds in 24-48 business hours. Our business funding experts will match your business with a wide range of line of credit options. Along with the range of options, they will also help you compare the interest rates, terms & payments and select the one that meets your business’ unique financial needs.

First & foremost, you need to compare different alternative lending options & choose the one that best fits your business’ financial requirements. Since traditional banks tend to be harder to qualify for, you should go for alternative lenders. Read the terms carefully, know about the interest rates & fees before finalizing with a lender. Gather & submit the required documents along with business information in advance.

Here's the list of required documents: • Driver's License
• Bank Statements
• Balance Sheet
• Profit & Loss Statement
• Business Tax Returns
• Personal Tax Returns
• Credit Score
• Voided Business Check

A business line of credit comes both secured & unsecured. While secured are backed by collateral like real estate, inventory & AR, etc, you have to give a personal guarantee in an unsecured line of credit.

Whereas a term loan can be used only once, a line of credit can be used multiple times. You have a weekly or monthly payment & regular interest rates with term loans while you make payments only on the amount you borrowed in a line of credit. The closing costs are lower for a line of credit than a term loan. Lines of credit are best for short-term while term loans are usually best for long-term purposes.

Understanding the cost of a line of credit is pretty simple – when you take, you pay. That is you’ll only pay interest on the cash you draw. Besides that, in addition to interest charges, most lenders will charge an annual fee for the business line of credit. Also, you may have to give a transaction fee if you’re going to need a significant number of loan advances & repayments.

Whether you want to finance ongoing expenses, cover working capital gaps, hire new talents, buy inventory or new machinery, move to a new location, or buy a new office, you can use a line of credit for nearly any business purpose as a small business owner.

The requirements for a line of credit may vary from lender to lender, however, there are some common requirements that one can expect when applying for a business line of credit. A business:
• Must be in operation for at least two years
• Must provide proof of revenue & business health
• May have to put traditional collateral
• May require a personal guarantee if you’re an independent small business owner
• May require a guarantee from the parent company if the applicant is a subsidiary of a larger company
• Lenders may examine the personal credit of the business owner & all guarantors
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