Enjoy a fast and flexible way to borrow.
If you're thinking about opening a small business line of credit, ask yourself this: “Are my funding needs short term?” That’s one way to know if a line of credit is the right borrowing option for your business. For example, if you want to build inventory for the holidays, or temporarily supplement your working capital. You may only need extra cash a small amount at a time, and you may need to use it for a variety of business expenses.
Whatever your plans, a SunTrust small business line of credit gives you fast, flexible access to the cash you need, when you need it. And the best part is you only have to be approved once.
Here’s how it works:
- You’re pre-authorized to borrow up to a specific amount
- That amount gets secured by your business assets, though in some cases an unsecured option may be available if certain credit conditions are met
- You can use funds and pay them back on a flexible basis—check writing is available for most business lines of credit
- Interest only accrues on your outstanding balances, so on the amount of the line you’ve borrowed, not the untouched amount waiting to be used. Thus, interest varies.
If you’re thinking a small business line of credit might be the way to go, or you'd just like more information, a SunTrust representative can give you further details and help you decide which credit options are right for you. Simply call 800.752.2515.