Business Line of Credit*
Why New York Companies Use Business Lines of Credit
If you own and operate a business in New York, looking into the establishment of a line of credit for your business makes a lot of sense. Even if you own a small business, having that credit line available can come in handy in a number of applications. This is especially true if your cash flow is not moving as fast as you would like.
Business lines of credit provide New York businesses with access to credit when and as they need it for some sort of business expense. Those credit lines allow business owners to use all or a portion of that credit limit to obtain cash quickly to cover all sorts of expenses. For example, if your receivables for the last month have been slow, you may want to use part of the credit line to meet payroll and pay other basic operational expenses. As the cash flow begins to pick back up, you pay off the amount you borrowed from the credit line.
In the state of New York, banks and other financial institutions offer secured and unsecured business lines of credit. The type of line depends on the financial stability of the business in question. In addition, the limit on the line will vary based on the perception of the borrower’s ability to comply with the terms and conditions that apply to that line of credit. As with other credit and lending opportunities, there is the opportunity to increase the limit on that line if you demonstrate the ability to utilize the credit responsibly.
Choosing the right partner to help establish one or more business lines of credit is important. We at Centex Capital can help you understand how to use the line of credit to best advantage and aid in securing terms that are very favorable to you and your business.
*This product is not regulated by the New York State Department of Financial Services
Contact us to see if you qualify for a Business Line of Credit. Email us or call Now (800)842-2910.