Small Business Line of Credit Online
A small business line of credit online offers more flexibility than other types of small business funding in Canada. Get the working capital your business needs in just 24 hours, with no restrictions on how you use your funds.
What is a Line of Credit for Small Business?
A small business line of credit online gives you access to the working capital you need when you need it without the obligations of a fixed term loan. With a business line of credit, you can draw as much or as little as you need as long as you don’t exceed your credit limit. You have the flexibility to draw and repay as many times as you see fit, as long as your business is performing the same way or better than it was when your line of credit was approved. You’ll only pay a fee on the portion of money you draw.
Apply for alternative business credit from Greenbox Capital® online and get up to $500,000 in funding in just 24 hours.
Who Should Apply for a Small Business Line of Credit Online?
Small business lines of credit are ideal for:
- Purchasing new inventory
- Opening a new location
- Upgrading or replacing equipment and technology
- Bolstering your small business’s marketing
- Filling in cash flow gaps during slow seasons or between projects
Lines of credit for small businesses can benefit attorneys, medical practices, construction companies, restaurants, retailers, and more. No matter what industry you operate in, our expert Funding Advisors will work closely with you to select the best funding option to help you achieve your business’s goals without sacrificing cash flow.
How Small Business Lines of Credit Online Work in Canada
Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.
A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.
Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.
Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.
How to Use a Line of Credit for Small Business
There are no restrictions on how lines of credit for small business can be used. These loans are typically best used to:
- Fill in cash flow gaps caused by seasonal slowdowns or unexpected expenses
- Fund growth strategies, new equipment, and other costly purchases that have a strong ROI
- Finance an expansion, merger, or acquisition
- Take advantage of seasonal business opportunities such as purchasing inventory in bulk
Small Business Lines of Credit Online Qualification Requirements
It’s easy to apply for a small business line of credit online from Greenbox Capital®. Approval is based on your business’s revenue and cash flow, not just your credit score. Here are some of the factors we consider:
- Business revenue
- Cash flow (based on your bank balances over time)
- Vendor payment history
- Years in business
- Industry type
- Public records
- Personal credit
Business Line of Credit Q&A
When is a business line of credit right for my business?
A business line of credit is very flexible and can be used for any business purpose. It’s often used by seasonal businesses to cover operations during slower months, for example.
Can I request a credit line increase?
Yes, you can increase your line of credit after one successful round of funding with us.
Is collateral required for a line of credit for small business?
No hard collateral is required, but a UCC filing will be completed.
Is it hard to get a small business line of credit online?
A small business line of credit online can be very difficult to get through a traditional lender. With our streamlined application, you access a line of credit for small business within 24 hours.