Ahh yes, the unicorn of business funding, the ever sought after holy grail called the Business Line of Credit.
In order to qualify for a true business line of credit there will be some hoops to jump through to be sure. The advantage of a business line of credit is that like a business credit card, you only pay on what you use, yet you have the flexibility to access your full line of credit when the need arises.
These funds are generally deposited to your business checking account and then paid back over time. Terms for payback can be as short as 6 months and multiple years depending on what you and your business qualify for.
Lenders will often review your last 6 to 12 months of business bank statements, business tax returns, profit & loss and balance statement.
Oftentimes when compared directly with a 0% business credit card, the business card will come out more cost effective than a business line of credit the first 3 years and tend to have more long term benefits with cash-back bonuses etc.