Business Line of Credit
A flexible credit line you draw from as needed.
Apply online in about 3 minutes. Draw the funds you need, when you need them, and make payments only on what you use. Funding in as little as 24 to 48 hours, with no obligation.
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Funding up to $500,000
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Draw funds as you need them
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Funding in as little as 24 to 48 hours
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Funds available again as you pay down
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Minimal paperwork
Business Line of Credit
Minimum Requirements
These are the basic criteria to be eligible for a Line of Credit with Monark.
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$20,000 in monthly revenue
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620+ Credit score
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2 years in business
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Business bank account
How a Business Line of Credit Works
A business line of credit gives you access to a set amount of funding that you can draw on whenever you need it. You use what you need, make payments on what you have drawn, and the available amount can be used again as you pay it down.
A simple example
Say your business is approved for a $75,000 line. A slow month leaves a $20,000 gap before payroll, so you draw $20,000. The other $55,000 stays available for the next time you need it. Your exact amount, terms and payments depend on your business and your agreement. We walk you through every number before you accept anything.
Who it is a good fit for
- Owners with uneven or seasonal revenue who want a cushion
- Businesses with recurring costs such as payroll, inventory or supplier terms
- Owners who want funding on standby for opportunities and surprises
Line of credit or merchant cash advance?
A line of credit is a flexible limit you draw from over time. A merchant cash advance is a one-time lump sum tied to your sales. If you would rather have one amount on a fixed schedule, see our term loan option. A funding specialist can compare them for your situation at no cost and with no obligation.
What happens after you apply
- Apply online in about 3 minutes.
- Get a decision from a funding specialist, often the same day.
- Review your offer with no obligation to accept.
- Get funded in as little as 24 to 48 hours after you accept.
Ready to see what you qualify for? See My Options or call (954) 355-6622.
Speak to a funding specialist
Speak with a funding specialist to see what you qualify for. No obligation.
Frequently asked questions
A business line of credit is a set amount of funding you can draw from as needed. You make payments on what you use, and the line can be used again as you pay it down.
A term loan pays out one lump sum with a fixed payment schedule. A line of credit lets you draw smaller amounts over time.
It works well for uneven cash flow, seasonal costs, payroll gaps and inventory purchases, where you may need funds more than once.
Typically 2 years in business, $20,000 in monthly revenue and a 620 or higher credit score. A funding specialist reviews your full picture.
Many owners are funded within 24 to 48 hours once a decision is made and documents are in. Timing depends on your business and how quickly we receive your documents.
It usually doesn’t affect your credit score. In some cases a soft credit check may be used, and we’ll let you know first.