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LINE OF CREDIT
Unlock funds when you need them
Fast access to flexible funds to help you focus on growing your business.
Only takes 5 minutes and doesn't impact your credit score1
Business Line of Credit
SmartBiz helps eligible businesses access a line of credit from $50,000 to $100,000 offered through our bank partners. With convenient access to capital, you can manage cash flow or fuel expansion when the time is right.
Convenient Application
Minimal documentation needed—just 6 months of business bank statements and a debt schedule. No tax returns or complex financial statements required.2
Flexible Capital
Draw funds anytime over a 24-month period. If you don’t owe a balance, no payment is due.
No Draw Fees
Borrowers can access funds without paying extra per draw, unlike many other options.
Predictable Payments
With 36-month repayment terms, enjoy once-a-month payments, not the daily or weekly burden common with other lenders.3
Frequently asked questions
Your dedicated team of SmartBiz professionals will review your unique needs to help you determine if a business line of credit is right for your business.
My credit isn’t great - should I still apply?
Absolutely. We know you’re more than your credit history, and our technology and team will work with you to help you find a solution that works for where you are right now.
How much will this cost me?
Your monthly payments are based on the amount you actually use. Your interest rate (SOFR + 12.99% to 28.99%) is subject to credit approval by the lender. You'll pay a one-time 6% origination fee at closing and a flat $750 in closing costs. Standard wire transfer fees may apply. Further details are included in your terms and conditions. 4
Will I be charged a fee for every withdrawal?
No! While some lenders may charge fees for each withdrawal, there are never any additional fees after origination with this line of credit. Draw on the money when you need it, no extra fees involved.
Are there additional fees?
On the first anniversary of the line of credit funding, the partner lender will charge a 1% annual management fee based on the approved line of credit amount.
How much can I draw at origination?
At origination, businesses may request the full amount of the line of credit balance to be disbursed into their business bank account, less required fees. If no funds are immediately required, business may request to only draw the balance required to cover fees.
What happens at maturity?
At the end of the 24-month draw period, if there is no balance owed the line of credit will simply close. If there is an active balance after the draw period has concluded, the payments will remain on the same amortization schedule until the draw is fully repaid. Alternatively, clients can request to have any balance owed re-amortized over the 36 months post maturity. The line of credit will not allow for any additional draws after the 24-month maturity date.
What are the different ways I can use funds from a line of credit?
The flexible structure of this business line of credit lets you use the funds in ways that make sense for your business. For example, you might hire a new staff member, acquire additional inventory, finance an upcoming project, or take advantage of a new business opportunity.