Business Line of Credit
Ongoing projects, meet always-ready credit.
For unpredictable projects, a business line of credit means you borrow once, then take what you need when you need it. It’s a great fit for big to-do’s like renovations or rebranding. A line of credit can even function as a low-risk way to cover bills, payroll, and other operating costs during cash flow gaps.
Business Line of Credit 101
For unpredictable projects, a business line of credit means you borrow once, then take what you need when you need it. It’s a great fit for big to-do’s like renovations or rebranding. A line of credit can even function as a low-risk way to cover bills, payroll, and other operating costs during cash flow gaps.
More flexibility for every what-if.
Apply for anywhere from $5K to $40K and tackle what’s next with newfound confidence. With a business line of credit, you’ll only pay interest on what you use, not the full amount you’re approved to borrow. So you’re never on the hook for the money you didn’t really need in the first place, but you (and your bottom line) are always ready for what the day, week, or month brings.
Business Line of Credit Benefits
Get going
From flipping houses to fixing up the shop to making payroll, a business line of credit can cover you. Schedule a meeting with us and apply today.
Take our card. If you're creative and courageous, you're our kind of person.
- Phone: 931.431.6800
- Email: businessservices@forteracu.com
FAQs
Is the Business Line of Credit a secured or unsecured loan?
The Business Line of Credit is an unsecured loan.
What would I use the Business Line of Credit for?
This loan is great for projects that don't have a fixed price. If you are remodeling a lobby, paving a parking lot, or even covering a gap in income, etc. this is a great option for you. It allows you the flexibility to borrow what you need instead of requiring you to borrow a larger sum.
What is the difference between a Business Essential Loan and a Business Line of Credit?
The two biggest differences between a Business Essential Loan and a Business Line of Credit are the types of interest rates for each loan and how one receives their funds. Business Essential Loans are fixed-rate loans and they are given in one large lump sum. A Business Line of Credit is a variable rate loan and business members receive access to a line of credit. You can borrow as much as you need without having to commit to a large lump sum.
Can I make additional payments on the Business Line of Credit?
Yes! You can make additional payments on all Fortera Loans.
How much funding can I get with a Business Line of Credit?
You can get anywhere between $5,000 - $40,000 in funding.
What documents do I need to apply for a Business Line of Credit?
To verify your identity, we always ask that you come prepared with a government-issued ID. It is important that it is not expired. Examples of acceptable IDs include a State Driver's License or a U.S or Foreign Passport. If we have trouble validating your ID, we may ask for a secondary ID. If you have a question about whether or not an ID can be used, just text us at 931.431.6800 or chat with us at forteracu.com. Please click here for full list of the documents you will need.
Can I apply for a Business Line of Credit online or do I need to apply for it at a branch location?
You do need to call us or come into a branch to open this account. We are working toward having easy online applications soon. In the meantime, please call us at 931.431.6800, email us at businessservices@forteracu.com, or schedule an appointment to open an account.
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