Lines of Credit
Flexible revolving credit lines — draw what you need, when you need it, and only pay interest on what you use.
LOAN RANGE
$10K – $1M
TURNAROUND
24–48 hours
Best for businesses that need flexible, on-demand access to working capital for managing cash flow fluctuations, seasonal expenses, or unexpected opportunities.
About Lines of Credit
A business line of credit gives you access to a revolving pool of capital that you can draw from whenever you need it, repay, and draw again. Available from $10,000 to $1,000,000, this flexible financing product functions similarly to a credit card but typically offers higher limits and lower interest rates.
The key advantage of a line of credit over a term loan is that you only pay interest on the amount you actually use. If you have a $200,000 credit line but only draw $50,000, you only pay interest on that $50,000. As you repay, the available balance replenishes, giving you an ongoing source of working capital without needing to reapply.
Business lines of credit are ideal for managing cash flow gaps, covering seasonal fluctuations, funding inventory purchases, or maintaining a financial safety net. Slate Financial connects you with lenders offering competitive rates and fast approvals, so you can have your credit line established and ready to use within 24 to 48 hours.
How It Works
- 1Apply by providing your business bank statements, identification, and basic business information so we can assess your revenue and creditworthiness.
- 2Our team reviews your financial profile and matches you with the best available credit line offers from our lending network.
- 3You receive a credit line approval with a maximum limit, interest rate, and draw terms. There is no obligation to draw immediately.
- 4When you need funds, request a draw through your lender's portal or by contacting your account representative. Funds arrive in your bank account within hours.
- 5Repay on the agreed schedule, and your available credit replenishes automatically, giving you ongoing access without a new application.
Who Qualifies
- Minimum 6 months in business (1+ year preferred)
- Average monthly revenue of $10,000 or more in bank deposits
- Personal credit score of 600 or higher (680+ for the best rates)
- No active bankruptcies or unresolved tax liens
- Business bank account in good standing with positive cash flow
Typical Terms
| Credit Limit | $10,000 - $1,000,000 |
| Interest Rate | 8% - 35% depending on profile |
| Draw Period | 12 - 24 months (renewable) |
| Repayment | Weekly or monthly |
| Draw Fee | $0 - 2% per draw (varies by lender) |
| Annual Fee | $0 - $175 per year |
Pros & Cons
Advantages
Considerations
Ready to Apply for Lines of Credit?
Fill out the application below and a funding advisor will reach out within 1 business day.
Program Highlights
Required Documents
Have these ready to speed up your approval:
Typical Timeline
24–48 hours
Timeline begins after all required documents are received and verified.