Business Line of Credit
21 Feb
Today's
Best Rate
Business Loan From 7.89 % Fixed
With A low 8.0 % Comparison
Doctors Loan Australia

What is a Business Line of Credit?

A business line of credit is a certain amount of capital that you can borrow per year for various aspects of your business. You can use the business line of credit loan and borrow against it to get funds to help grow your business.

The reason a business line of credit is popular is because you don’t have to make your traditional monthly payments like you would with a typical business loan.

Instead, you take out money as you need it and you only have to make minimum monthly payments as you would on a credit card.

There are short and long term options when it comes to the business line of credit finance as well and the payments you make will depend on what type of loan you have.

Secured and unsecured are both options for business lines of credit

A secured business line of credit requires you to have something placed as collateral in the event that you are unable to pay the line down. This could be a vehicle, house, or any asset that has value.

An unsecured business line of credit does not have collateral or any type of security placed in the event that you don’t pay. These usually have higher interest because the lender is taking a higher risk by loaning that money to you.

How much can I borrow with a Line of Credit?

How much can I borrow with a Line of Credit?

The rates, terms, and borrowing limits will vary based on a number of different factors. To determine how much you would be eligible to borrow, you’ll want to contact us or apply for a business line of credit to get started.

To give you an idea, the interest rates on lines of credit are usually lower than credit cards and they have higher limits. So, this means that you’ll be able to borrow more than you would with a standard credit card.

There may also be other fees like annual usage fees and setup fees that can increase your balance right off the bat plus interest.

The amount you’ll be eligible to borrow will depend on your credit history, how much money you make, what you plan to use the money for, and whether or not you’re putting a security deposit down on a secured loan.

How does a business line of credit work?

To receive a business line of credit, the process is rather simple. You’ll apply for the line through one of our Business Loan Specialists who are always here to help you. We’ll walk you through the entire process, explain everything to you, and make sure that we get you the line of credit that helps you grow your business the way you envision.

From there you’ll get approved for the credit line depending on your credit and other financial factors. Once you’re approved we’ll draw up a contract, explain everything, you’ll sign it, and then you can start pulling funds from the line of credit to make purchases in your business.

Business line of credit vs business credit card

Business line of credit vs business credit card

These two might sound the same but there are some important differences to cover.

A business line of credit can be both secured or unsecured depending on your preferences and eligibility. Business credit cards are only unsecured.

Business lines of credit will deposit money directly into your bank account from the credit line whereas a business credit card will require you to accumulate a balance on the credit card as a typical card would.

Lastly, a business line of credit does not charge you cash advance fees whereas credit cards usually have very high cash advance fees.

Apply for a Business Line of Credit

Business Finance Options

transport and equipment
Transport and Equipment

Transport and Equipment Finance

Fox Finance Group has been assisting Australian Businesses to help them finance their business equipment since 2006. Our team take the legwork out of finding the best deal in the marketplace across a range of industries including Trucks and Transport, Mining and Construction, Farming and Ag, Boating and Marine, Aviation, Hospitality, Office Equipment and more. Whether it’s new or second-hand equipment, from a private vendor or dealer, we have a tonne of finance options for you.

Apply for a business loan

unsecured business loans
Unsecured Business Loans

Unsecured Business Loans – Money in Your Account Within 24 Hours

Do you need to purchase something for your business right now? We’ve helped thousands of Australian businesses grow by partnering with us and using smart lending strategies within their business with a clear strategy to take things to the next level. We have been a part of the success stories of businesses trading in hospitality, retail, beauty services, transport and aviation, wholesalers, accountants, solicitors, real estate agents and much more.

Apply for a business loan

tradie loans
Tradie Loans

Tradesman Loans – Money in Your Account Within 24 Hours

Do you understand your options when it comes to Business Finance and Leasing? When we say that we can help you decide which option is best for your situation, we really mean it. With Fox Finance Group, you also get access to your very own Financial Planner to help you understand and plan through the best financial options for you and your business.

Apply for a tradie loan

business line of credit
Business Line of Credit

Unsecured Business Line of Credit of up to $25,000

Do you need to purchase something for your business right now? We get so excited when we speak about our Unsecured Business Line of Credit product with our business clients! Having access to a facility like this has already proven to be a game changer for many Australian businesses.

Apply for a line of credit

Invoice funding
Invoice Funding

Invoice Funding – Unlock Your Cashflow Today!

We have a number of Invoice Finance options for our customers. Imagine getting paid 80% of every invoice you issue with in 48 hours? Would that dramatically help your cashflow? WHAT EXACTLY IS INVOICE FINANCE? Invoice Finance is simply the use of outstanding debtors/accounts receivable to raise working capital. Invoice finance is not a loan it is the sale of trade debts/invoices for cash to bridge the cashflow gap between the time the sale is made and when the customer…

Apply for an invoice funding loan

Franchise Finance

Competitive Franchise Finance Options

Franchise Finance Obtaining finance when buying a franchise may be difficult as many lenders hesitate to fund new franchises or new ventures. At Fox Finance Group our Lending Specialists have many years experience in securing competitive franchise funding. We have strong business relationships with a number of financial institutions and banks that can help put the dream of owning your own…

Apply for a franchise loan
Happy male waiter taking order

5 Simple Steps To Getting Your Next Business Loan

  • 1. Apply
    1. Apply

    You can complete your business loan application either online or over the phone with us.

  •  2. Send us some Documents
    2. Send us some Documents

    We will ask you to provide proof of business income and identification.

  • 3. Get Approved
    3. Get Approved

    We'll work hard to ensure your business loan approval is as close to your loan preferences as possible.

  • 4. Sign the Contracts
    4. Sign the Contracts

    With our technology, most business lenders will allow for secure digital signing of loan contracts.

  • 5. Settle
    5. Settle

    Your loan funds can often be processed within one business day. It's that simple!

5 Simple Steps To Getting Your Next Business Loan

What Our Clients Say

Why Choose Fox Finance Group?

Questions about Business Line of Credit?

Apply Now