Business Line of Credit

To qualify for a business line of credit through Office Capital Group’s lender network, a business will need to at least meet these minimum requirements:

• 2 years in business
• Minimum 715 personal credit score
• At least $1 of net income in most recent business tax return
• At least $100,000 in annual revenue 

Our lenders can close in just 2 to 4 weeks!

At the end of the term the line will either renew or be converted to a term loan. This decision will be made by the bank, and will mostly depend on how the line of credit was used during the term. If you consistently use and pay off the principal, the bank will be likely to renew. If you run up a balance and let it sit for the entire term, only making interest payments and never paying principal, the bank will convert this balance to a term loan.  

A line of credit offers flexible access to funds—you draw what you need, when you need it, and only pay interest on the amount used. If there’s no balance, there’s no payment. In contrast, a term loan gives you a lump sum upfront with fixed payments over time. Term loans are better for one-time expenses, while lines of credit are ideal for ongoing or unpredictable cash flow needs.

All of our lenders will require a basic application, your driver’s license, and the most recent business tax return. Most of our lenders will require an additional list of organizational documents, like articles, bylaws, or an operating agreement. Generally we will not need financial style documents, like a debt schedule or profit and loss statement.