Term Loan
A lump sum at a fixed rate, repaid on a schedule you can plan around.
- Amount
- $20,000 – $1,000,000
- Cost
- From 6%
The six, in full
Business Line of Credit
A facility that costs nothing until the week it earns its keep.
- Amount
- Up to $1,000,000
- Term
- 6 months – 3 years
- Cost
- From 4.5%
- Funded in
- 1 – 2 days
Line of credit
What it is
A line of credit is an approved amount you draw against only when you want it, paying interest on what is drawn rather than on the whole facility. Repay, and the room comes back.
Undrawn, it sits there costing nothing. That is the argument for opening one before you need it rather than during the week you do.
- When it is the wrong answer
- It is a facility, not a lump sum. If you need the whole amount now and once, a term loan or a short-term loan will usually cost less to do the same job.
What it gives you
When it is the right one
- Interest on what is drawn, not on what is approved
- Draw, repay, and draw again on the same facility
- No obligation to use it once it is open
- No restriction on what a draw is used for
Apply
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About fifteen minutes, across six screens. One application reaches 80+ lenders, costs nothing, commits nothing and leaves no mark on the owner's credit score.
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The six, in full
Where it sits among the six
Short-Term Business Loan
The same instrument on a shorter runway, for something that pays itself back quickly.
- Amount
- $10,000 – $1,000,000
- Cost
- From 6%
Equipment Financing
The longest term here, tied to the thing it buys.
- Amount
- Up to $250,000
- Cost
- From 8%
Working Capital
Funding for the running of the business rather than for a purchase.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Business Line of Credit
A facility that costs nothing until the week it earns its keep.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Business Cash Advance
A sum against future receivables, repaid as a share of them.
- Amount
- $5,000 – $500,000
- Cost
- 10% – 35% factor
The cash advance is priced as a factor and the other five as a rate. A factor of 1.2 on $100,000 is $120,000 to repay whether it clears in six months or eighteen; settling it early does not reduce it. Interest falls when the balance falls. Putting a factor beside a rate compares two different things.