A line of credit can provide freedom for businesses with a series of short-term needs, or it can be a ready source of funds for any upcoming expenditure.
Many companies use a line of credit as an interactive finance tool, so their business has easy access to funds without tapping into cash. With a line of credit, it’s typically more cost effective to pay down the balance than it is with a term loan.
Credit lines can be very useful for businesses with steady sales and irregular receivables and can be equally useful when sales aren’t as robust to supplement cash flows.
A line of credit might be the ideal solution for everything from paying employees and suppliers to financing the next phase of growth for your business. Once you establish a line with SLK, you can easily access funds—typically within a few hours or less.
While credit lines can be useful financing tools for managing day-to-day expenditures over a period of time, they can also be established quickly to meet immediate needs. All of our offerings benefit from our responsive approach, so once we evaluate the supporting information you provide and propose terms we can transfer funds within 24 hours of closing.