{"id":172934,"date":"2019-10-16T15:42:06","date_gmt":"2019-10-16T15:42:06","guid":{"rendered":"http:\/\/www.georgianewsdesk.com\/news\/story\/172934\/can-business-line-of-credit-rates-be-the-bane-holding-small-businesses-down.html"},"modified":"2019-10-16T15:42:06","modified_gmt":"2019-10-16T15:42:06","slug":"can-business-line-of-credit-rates-be-the-bane-holding-small-businesses-down","status":"publish","type":"post","link":"http:\/\/www.honolulunewsnow.com\/news\/story\/172934\/can-business-line-of-credit-rates-be-the-bane-holding-small-businesses-down.html","title":{"rendered":"Can business line of credit rates be the bane holding small businesses down?"},"content":{"rendered":"<p style=\"text-align: justify\" dir=\"ltr\"><span>A small business line of credit is a financial tool that has been likened to a business credit card. A small business line of credit offers the borrower access to capital up to a certain amount, giving businesses access to the capital needed to pay for their expenses. One feature of business line of credit is the &ldquo;revolving&rdquo; balance that allows borrowers to the balance from month to month with interest calculated based on the amount drawn.<\/span><\/p>\n<p style=\"text-align: justify\" dir=\"ltr\"><strong>Factors to consider before Choosing a Business Line of Credit<\/strong><\/p>\n<p style=\"text-align: justify\" dir=\"ltr\"><span>There is a popular perception that it is relatively easier to apply and get approved for a business line of credit. However, there are several factors to consider by a business owner before deciding on the suitability or otherwise of a business line of credit. The <\/span><a rel=\"nofollow\" href=\"http:\/\/www.fundbox.com\/lines-credit\/\"><span>business line of credit requirements<\/span><\/a><span> and other such factors are carefully considered before taking this funding option.<\/span><\/p>\n<p style=\"text-align: justify\" dir=\"ltr\"><span>If used properly, a business line of credit can be extremely beneficial and convenient to businesses, helping them to become and remain successful. Having a good business credit history is one of the strongest tools any business can have when applying for business line of credit, as it provides a stronger ground to leverage on.<\/span><\/p>\n<p style=\"text-align: justify\" dir=\"ltr\"><strong>Pros of Getting a Business Line Of Credit:<\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li>\n<p dir=\"ltr\"><span>Flexible Process<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><span>Interest only on the portion of credit used<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><span>Lender-borrower relationship<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><span>Better Business Credit Rating<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><span>Lower Interest and lower fees than other popular options.<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\" dir=\"ltr\"><span><br \/><strong>Cons of Getting a Business Line Of Credit:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify\">\n<li>\n<p dir=\"ltr\"><span>Difficult Application Process<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><span>Fees and Charges<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><span>Possible Debt Spiral Situation<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\" dir=\"ltr\"><span><br \/>It can be clearly seen that in addition to cost of borrowing (interest rate) being one of the major considerations for small businesses when getting a loan, there are several other factors to look out for before choosing business line of credit as a funding option.<\/span><\/p>\n<p class=\"caps\"><span style='font-size:18px !important'>Media Contact<\/span><br \/><strong>Company Name:<\/strong> <a rel=\"nofollow\" href=\"https:\/\/www.abnewswire.com\/companyname\/fdbox.com_48198.html\">Funding Box Company<\/a><br \/><strong>Contact Person:<\/strong> Viola D. Hayes<br \/><strong>Email:<\/strong> <a rel=\"nofollow\" href=\"https:\/\/www.abnewswire.com\/email_contact_us.php?pr=can-business-line-of-credit-rates-be-the-bane-holding-small-businesses-down\">Send Email<\/a><br \/><strong>Address:<\/strong>4450 Elmwood Avenue   <br \/><strong>City:<\/strong> Philadelphia<br \/><strong>State:<\/strong> PA <br \/><strong>Country:<\/strong> United States<br \/><strong>Website:<\/strong> <a rel=\"nofollow\" href=\"http:\/\/fdbox.com\" target=\"_blank\">fdbox.com<\/a><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/www.abnewswire.com\/press_stat.php?pr=can-business-line-of-credit-rates-be-the-bane-holding-small-businesses-down\" alt=\"\" width=\"1px\" height=\"1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A small business line of credit is a financial tool that has been likened to a business credit card. A small business line of credit offers the borrower access to<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/posts\/172934"}],"collection":[{"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/comments?post=172934"}],"version-history":[{"count":0,"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/posts\/172934\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/media?parent=172934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/categories?post=172934"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.honolulunewsnow.com\/news\/wp-json\/wp\/v2\/tags?post=172934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}