Secured business line of credit. This type of line of credit requires businesses to put up specific assets as collateral. Since a line of credit is a short-term liability, lenders typically ask for short-term assets, like accounts receivable or inventory.

Unsecured line of credit. While this type of line of credit doesn’t require specific collateral, your lender will likely place a general lien on your business and require a personal guarantee from you. You’ll likely need a stronger credit profile to qualify and interest rates may be higher. Additionally, keep in mind that unsecured lines of credit typically come with a lower credit limit.

Revolving line of credit. With this type of line of credit, you replenish your available funds as you repay what you borrow. This gives you access to future funding without needing to reapply. FundingDirectSolutions business line of credit is a revolving line of credit.

Non-revolving line of credit. A non-revolving line of credit is just like a revolving line of credit except your available funding doesn’t replenish as you make payments. You’re given a capped credit limit, and when you reach that amount, you exhaust your funding.

Yes, we do offer refinancing options. If you have a current funding balance and meet certain criteria — such as a strong repayment history and healthy business performance — you may qualify to refinance your existing balance. Refinancing can provide you with additional capital, potentially extend your terms, or consolidate multiple obligations into a more manageable structure.