Businesses looking to expand their operations and need cash flow can expand through a business unsecured lines of credit. Whether businesses are looking to hire new employees, invest in new technology or expand their operations, an unsecured line of credit can provide the funding required. To get ahead of the competition, obtaining cash flow opens up opportunities without being required to use assets as collateral.

What is an unsecured line of credit?

Traditionally, a business would take out a loan and have it covered by an asset and only come in one lump sum. Whereas a business credit line allows for continuous borrowing options that only need to be repaid upon the interest of the amount borrowed. 

Having this financial freedom allows businesses that often experience the ebb and flow of their business, access to ongoing funds allow them to run their business smoothly. 

Offering this option gives business growth financing that they can take advantage of without having to burden them with long-term commitments. 

Fueling Growth 

Here are some ways businesses can benefit from an unsecured business credit line

1. Ongoing Access to Funds
   As a small business, ongoing financial needs are important to be met – whether its payroll, purchasing inventory or adding a marketing campaign. With a small business credit line, you won’t have to wait on approvals every time your business needs that extra cash.
2. No Collateral Needed
   Traditionally, loans require you to borrow against a home or another asset. This method doesn’t require you to borrow against collaterals, which becomes an attractive option for businesses just getting off the ground and looking for flexibility to ensure growth. Not having to dip into personal savings or borrow against your assets gives you true financial freedom to operate your business smoothly.
3. Cash Flow Improvements
   Small businesses and start-ups often struggle with cash flow and will often exceed their profits or revenue. Providing this safety net for your business can allow you to cover your daily expenses even during your slower periods.
4. Building your Business Credit
   As with most businesses, building strong credit improves their viability and longevity. Financial options open up when businesses have strong credit and unsecured business credit lines will help with this process.
5. Quick and Painless Approval Process
   At NoCap Funding, we make the process for businesses easy and affordable. This financial option will have you jumping through fewer hoops to get the money you require to keep your business afloat. Our easy approval business credit process requires you to fill out an easy application, with little paperwork and is fully accessible to businesses of all sizes. For those businesses looking to get cash fast, this option will help expedite this process!

Is this financial option right for my business?

With many financial options available to business owners, business growth financing has never been easier than with an unsecured business line of credit. Consider its flexibility, minimal risk, and convenience and you can have your business running in no time. 

While lenders can offer comparable rates and terms, consider NoCap Funding to help maintain your business’s financial needs. We take a deep understanding of what your business needs to stay afloat even during the hard times. 

Whether you’re looking to expand your business or keep your business afloat while maintaining cash flow efficiently and effectively, an unsecured business credit line could be right for you. 

Reach out to our customer service team to find out more if this is right for your business!