Unsecured Business Credit Lines
Unsecured Line of Credit – ULOC: “What is a ULOC?”
- An extension of credit that does not encumber personal or business assets.
- No UCC filings or liens on your business.
- A business is approved for a certain amount of financing and allowed to draw on the line of credit at any time.
- What they borrow is what they make payments on.
Qualifications: “What qualifies a business for funding?”
- 2+ years in business
- 680+ credit score (24 month clean history)
Funding Use: “What can I use my ULOC for?”
- Debt Consolidation
- Working Capital
- Payroll…… It’s your choice!
Repayment: “What are the terms associated with unsecured lines of credit?”
- $10,000 – $250,000
- 3.25 % +*
- 4 – 7 year terms
*rates subject to change
** funding may need to be accomplished in multiple lines of credit
An unsecured business credit line, business lines of credit, unsecured business financing, ULOC or UBLOC are absolutely essential for any growing business. Use what you need, payback what you use – For any business purpose!
Through a series of questions Direct Business Lending’s funding analyst will be able to quickly determine whether or not your business will qualify for an unsecured line of credit and point out all other funding options your business could potentially qualify for as well.
Give us 48 hrs to underwrite your file and we’ll be able to tell you:
- Where your business has the highest chance of an approval.
- What the interest rate should be once you’re approved.
- What the term of the loan should be.
- MOST IMPORTANTLY: What potentially needs to be buttoned up prior to submission of the applications?
Direct Business Lending’s and their Consultants have established and working relationships with lenders who are actively approving unsecured business line of credit applications.
Direct Business Lending offers not just Business Lines of Credit but they also offer Small Business Loans, Business Lines of Credit, SBA Loans, Startup Loans. They also cater Business Financing, Business Finance to Business Lenders. Apply now!