business owner drinking coffee at coffee shop

Business Line of Credit

How A Business Line Of Credit Works


A business line of credit differs from a term loan, which provides a lump sum of cash upfront and then is repaid over a fixed period of time. Depending upon your needs at the time, you can draw from your line of credit, maintain its balance, and revolving lines can be reused it as often as you’d like, providing you make payments at a specified time and don’t exceed your credit limit. IncredibleBank typically allows you to repay your full balance early which saves on interest costs.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

How To Qualify For A Business Line Of Credit

1
First your business will need to demonstrate strong revenue and several years of history.
 
2
Next, IncredibleBank will require a couple of documents in order to give us a better financial picture of your business.
Two years of personal tax returns
Two years of business tax returns
Personal Financial Statement
3
Next, you'll either start an application online, or contact a banker. It's up to you.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

More Banking Options For Your Business

 

Woman looking at her business checking account on her smart phone

Business Checking

When you open a business checking account from IncredibleBank, you’re not just opening opportunities for success, you’re opening a relationship with a bank that actually cares about what makes life incredible for you.
 

incredible bank mobile app

Mobile App

Stay in control of your finances even when you're out of the office. Pay bills anytime, deposit checks, check balances, view transactions, and transfer funds with our IncredibleBank business app.
 

Business Services

We know managing business cash flow can be challenging, which is exactly why we offer several business solutions to help you find your incredible.