What is a Line of Credit?

A line of credit is a flexible business financing option that allows quick access to a defined amount of working capital. The way it works is a business is approved for a set amount of credit and has access to that amount through a streamlined process which allows for quick and easy access to draw on the approved amount when needed. The full approved amount does not need to be drawn at one time, but rather you can choose to draw only the funds your business needs when needed up to the approved amount. Businesses are only responsible for repayment of the outstanding combined balance on the draws plus any interest or other fees that may be charged.

Our line of credit options are extremely flexible and give your business access to the working capital it needs whenever it needs it most. A business line of credit is ideal for repeat cash flows needs. This is a great option for obtaining working capital to pay for unexpected expenses or exciting new business opportunities. Direct Processing Network facilitates access to line of credit financing from $5,000 up to $250,000. Best of all is that the authorization terms can vary from three to eighteen months and may reset every time capital is drawn from the account. Payments on the outstanding line of credit balance may be made by either fixed daily, weekly, or monthly payments that are automatically withdrawn from the business bank account on file.

How Does a Line of Credit Work?

A line of credit works by giving the approved business access to working capital that it can draw at any given time. That business is responsible for paying back the drawn amount and any associated interest charges or other fees. Payments are automatically withdrawn from the business bank account in either daily, weekly or monthly payments. Amortization can be from 3-18 months, and may reset every time the individual draws capital from the account.

How Do You Get a Business Line of Credit?

Applying for a business line of credit through Direct Processing Network is rather simple. It starts with submitting an application online. During the application process we will ask a few questions about the business and request some additional information, such as the owner’s information, last three months of bank statements, verification of identity, business information, and a business checking account. If we have any further questions, our team of dedicated business advisors will reach out to you. If approved, your business will have access to draw on the approved line of credit through our online client portal.

Getting a business line of credit does not have to be hard, and we made it our goal to make the process as easy and convenient as possible. <<Click here to apply for a business line of credit today!>>