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Why Small Businesses Should Open a Business Line of Credit.pptx

Thinking about opening a business line of credit? Biz2Credit highlights why itu2019s a smart financial tool for small businesses. From managing cash flow to covering unexpected expenses, discover the benefits and how it can support your business growth.

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Why Small Businesses Should Open a Business Line of Credit.pptx

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  1. Why Small Businesses Should Open a Business Line of Credit

  2. What is a Small Business Line of Credit? A small business line of creditis similar to a credit card. Lenders will establish a credit limit for the maximum amount of money they will lend to a borrower. The borrower can then tap as much as they need up to the limit. Like a credit card, the borrower will only pay interest on the amount that is borrowed.

  3. Loan vs Line of Credit A loan is where a small business receives a lump sum of an agreed-upon dollar amount from a lender. A business line of credit is similar to a credit card as the lender will establish a credit limit for the maximum amount of money they will lend you and you can tap as much as you need up to your limit. Like a credit card, you pay interest only on the amount you borrow.

  4. Understanding Business Line of Credit A flexible financing option allowing businesses to withdraw funds as needed, up to a pre-approved limit. How It Works: What It Is: Access funds repeatedly without reapplying. -Pay interest only on the amount used. Why It's Ideal for Franchise Owners: -Provides working capital. Covers unexpected expenses.

  5. Eligibility Criteria Minimum credit score of at least 600 Annual revenue requirements Operating franchise or plans to start a new franchise Supporting documents like franchise agreements

  6. Why Choose Biz2Credit? • Trusted partner for franchise funding • Biz2Credit was founded in 2007 and has provided more than $10 billion in loans. • Dedicated support team • Tailored financing solutions

  7. Thank You

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