Many companies have a credit line to manage unexpected expenditures and fund growth opportunities. It can be thought of as a credit card for your company. Interest is charged only on the amount drawn, & the credit limit moves back up once the amount drawn is repaid.
It is essential to consider a business line of credit, even if your finances are healthy. With a credit line, you can draw funds as needed, up to a limit over a short period. This allows swift access to capital for any reason and has greater control & flexibility over the use of these funds.
Business Line of Credit can also serve as Merchant Credit Line, which merchants can use to pay for goods from suppliers.
Credit lines are an excellent way for a company to increase its capital and take advantage of sudden business opportunities.