A business line of credit built for growth

Same day approval and funding

Pay for what you use

Up to $250k revolving line of credit

Applying is free and will not affect your credit score
Chrystina Morteo used her line of credit to open a new location.
Dr. Thy Nguyen uses his funds to invest in marketing campaigns.
Mike Marquez used his line to purchase safety equipment.
Business line of credit dashboard

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Credit limits of up to $250,000

Fast and flexible financing to Charge Your Business Forward™.

Take control of your working capital

Expand your business, open new locations

Purchase equipment and inventory

Small business financing made simple

The Idea Financial Revolving Line of Credit is the most flexible way to fund your business. Your funds are available on demand from our online customer portal. You can withdraw funds at any time and every draw you make restarts your repayment period.

Pay only for what you use from your credit limit

Replenish available credit after every payment

Get low payments with repayment terms of up to 18 months

No origination fees or pre-payment penalties

What is a line of credit?

A business line of credit is a form of revolving financing that allows borrowers to withdraw funds up to an agreed-upon credit limit and only pay interest on the amount drawn. It is revolving because you are able to withdraw funds, pay back a portion or all of those funds, and borrow more funds up to your credit limit. Funds are available on-demand and take as little as a few minutes or up to 1-2 business days to reach your bank account.

For example, a line of credit for $100,000 could be extended to your company. The business could take the full $100,000, or only take $5,000. They would only be charged interest on the amount they took so they could use their line of credit like a credit card.

Unlike business loans, which provide a fixed lump-sum amount upon opening an account, a business line of credit provides business financing in the form of a credit limit that you can use to withdraw funds up to the maximum amount. If you don’t need the funds today, that’s fine, you can draw funds later on when you need business financing.

The mechanics of a business line of credit are like a credit card; however, whereas you use your credit card in exchange for goods and services, you use your business line of credit to withdraw funds that are deposited into your bank account. You can then use these funds as working capital, to invest in your business, or pay expenses right from your business bank account.

What can I use it for?

Business lines of credit are usually used to help companies cover things you would not normally get a single loan for. As an example, a business might get a loan to help finance a new office but a line of credit to help them buy new machinery as old machines wear out. A line of credit can be used for most business expenses, and once you are accepted, the cash is available at any time. That means you can handle unexpected or hard-to-plan expenses without having to repeatedly secure financing.

A line of credit can also help smooth cash flow. If your business has spikes and troughs in revenue, monthly expenses can usually be handled through the line of credit. Then you can quickly pay back the difference when you get paid.


Do I qualify for a line of credit?

There are 4 basic rules that we use to check if someone is eligible for a revolving line of credit from Idea financial. These help us understand your business as well as ensure you have the funds available to make repayments.

  • Your business must have been in operation for at least 2 years. This allows us to understand your ability to repay anything you borrow and also shows that your company is able to sustain itself.
  • You must generate at least $15,000 in monthly revenue. This ensures that you have the cash flow to make repayments and also shows that your business is financially large enough to qualify for a line of credit.

  • You must have a 650 or higher personal credit score. This indicates that you have made smart financial decisions in the past, which lowers your statistical risk of defaulting.

  • You must not be a sole proprietorship or non-profit entity. This ensures that your business is large enough to qualify for a line of credit and not bound by not-for- profit restrictions.

We pride ourselves on our inclusive lending and offer business loans for minorities, women and businesses of all types.


How do I apply for a line of credit?

Applying for a line of credit is simple. Start by filing out our easy online application form. This includes personal information, data about your business, and some financial questions. We need this information to help us understand your company as well as analyzing your suitability for a line of credit.

Once the application has been submitted, we review it. Our expert staff is usually able to let you know if you have been approved the same day you apply. We give you our decision along with the details of the offer. This includes the amount we are offering for the line of credit as well as the interest rate and other terms. If you are happy with these terms, you can accept, and then we proceed to step 3.

Once you have accepted our offer, we make the funding available to your business. If we do not have any questions about your application, we may be able to approve your line of credit and give you funding within the same day.

How does a small business line of credit accrue interest and fees?

Different lenders charge in a variety of ways but we have listed the most common interest and fee options below. Idea Financial does not charge any origination fees, early repayment penalties, or maintenance fees.

Origination fees – a fee calculated as a percentage of your credit limit. If your credit limit is $100,000 and the origination fee is 2%, then the fee in dollars will be $2,000 due at the time of account opening.

Monthly/annual access or maintenance fees – a fee charged periodically to the account, which could be expressed as a percentage of your credit limit or a flat figure.

Draw fees – a fee calculated as a percentage of the funds you withdraw. For example, if your credit limit is $100,000 and you withdraw $50,000 with a 2% draw fee, then the draw fee is $1,000.

There may be other fees associated with your business line of credit, so pay close attention to the terms and conditions from your line of credit provider.

What is the difference between unsecured and secured lines of credit?

When financing is secured, it means that the financing is backed by collateral. For example, commercial mortgages are guaranteed by the offices purchased. In the case of small business financing, collateral can be business assets like inventory, heavy machinery, property, and more. Secured small business lines of credit typically have lower interest rates than their unsecured counterparts.

Alternatively, you can use unsecured business finance which is what Idea Financial supplies. Unsecured lines of credit simply mean that there is no collateral guaranteeing the financing. Therefore, the lender needs to be extra sure that the borrower can pay back the credit, which usually results in stricter application requirements and higher interest rates.

Quick application, same-day approval

Apply in minutes

Save time with our fast, cost-free application process.

Get approved today

We'll offer the best working capital solution for your business.

Fund your business

Withdraw the funds you need, when you need them.

Apply online or call us at: (855) 900-7838

Applying is free and will not affect your credit score

How does the Idea Financial Line of Credit work?

Get more insights into what a business line of credit is and how to use one to fund your business.

We fund businesses that have:

2 or more years in business

$15,000 or more in monthly revenue

650 or higher personal credit score

Not a sole proprietorship or non-profit entity

Our customers think we are excellent!

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Business advisor

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Business advisor

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Grow your business with dedicated business advisors

Call us at (855) 900-7838

Applying is free and will not
affect your credit score