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Sometimes in business, what you need is not a specific amount so much as a flexible, short term line of credit. You don’t want to pay interest or make payments on money you’re not using yet, but you also want to have immediate access to capital when it’s time to make an important purchase or handle an unexpected situation. If you need a nimble source of business finance which frees you up spend more time growing your business and less time making predictions about what you may or may not need next week, a business line of credit loan may be just the thing.

A small business line of credit isn’t intended for major purchases or long-term needs. Instead, much like a credit card (but more adapted to the needs of a growing business), this short term line of credit lets you spend what you need, on what you need, when you need it, up to a preset limit as negotiated between you and your choice of business loan companies. Your minimum monthly payment is typically limited to the interest on the amount you’ve actually used to date, making repayment terms extremely flexible – although some agreements specify a “closing” date for your operating line of credit, at which point the balance is expected to be paid in full. Unlike a traditional loan, as you repay the amount you’ve borrowed, that money becomes available again – you can borrow and pay it back as often as you like on the same flexible terms.

So what are the most common uses of a small business line of credit loan? One of the most efficient is using it to pay contractors or purchasing supplies essential to your business. Because of your business line of credit, you’re able to keep suppliers and contractors happy – and you never know when that might turn out to be important down the road. A short term line of credit can help manage normal operating expenses during slow periods, especially if your business is seasonal and you know it will be picking up soon. Sometimes it’s a simple as avoiding credit card fees some suppliers add on to offset their own costs. Anything you can pay with a check or cash, you can pay using a small business line of credit.

This type of line of credit financing is typically unsecured, meaning you don’t have to put up part of your business or any of your personal property as collateral.

Business lines of credit with lower credit limits are typically unsecured, which means collateral such as real estate or inventory is not required. Unsecured loans of any type sometimes carry higher interest rates than secured loans, but this will vary based on your personal and small business credit history. In other words, you won’t know for sure until you apply. Small businesses with enough equity – usually in the form of real estate – can often negotiate more favorable rates by leveraging that equity. In extreme cases, you may consider putting up your home or other personal property to secure a short term line of credit for your business, but this is not encouraged as a general rule.

Many traditional institutions like banks and credit unions offer some variation of a working capital line of credit, but as you may have suspected, there are numerous online business line of credit options as well. When you’re doing small business loan shopping, you don’t want to take any options off the table until you know who’s most likely to make you the best offer and do the most to establish a long-term relationship with your small business.

Qualifying for Small Business Line of Credit

What are business loan companies looking for when it comes to small business line of credit financing? None of the answers should be a surprise; most are similar to qualifying for any other type of small business loan.

First and foremost is your business’s credit history. If you haven’t been in business for long, they may look at your personal credit score and credit history as well. It helps for your business to have a reliable and substantial income stream. Even if your profit margins are modest, regular income translates to the ability to make payments in the eyes of most lenders. Younger businesses may be asked to provide collateral; be aware that if you’re unable to make your payments, the lender can take ownership of that collateral and sell it to offset their loss.

Online lenders may have more flexible qualification guidelines. Keep in mind that more risk usually means higher interest rates, so even if you do qualify, you may not get the terms you want until your credit is improved. Online lenders also tend to move more quickly – they run your information through their software and if you fall above a pre-established line, the money may appear in your account in 24 hours or less. This doesn’t mean you shouldn’t try your local bank or credit union as well before making your final decision, especially if your business is even moderately familiar to the surrounding community. Bankers love small businesses once they’ve emerged from the pack and want to be known for supporting local merchants if possible. If that works to your advantage, by all means – take advantage of the dynamic.

What if your credit history is less than perfect but you’re determined to make a success of your current endeavor? There are no easy answers to how to finance a business without strong credit, but it is possible. Many online lenders, especially, pride themselves in offering limited financing to new or struggling entrepreneurs. The type of small business line of credit bad credit allows you to secure may not have a high limit, and the interest rates and fees will be different than for a more established business, but that doesn’t have to be a permanent condition. The entrepreneur who today is wondering how to finance a business that plays to their strengths and passions or in dire need of a small business line of credit, bad credit notwithstanding, may in a few short years be telling their story to other young entrepreneurs facing similar challenges. He or she may be employing members of the community, paying too many taxes, and forming an essential part of that backbone to the American economy that small business collectively provides.

Similarities and Differences: Line of Credit Financing vs. Business Credit Card

There are numerous similarities between line of credit financing and a small business credit card. The most obvious is that both allow you great flexibility with small, irregular purchases and unpredictable needs. Both are ongoing, so that as you pay down or off your balance, that money is available to you again. Both have a maximum you can spend, although that maximum is periodically subject to review. In exchange for their flexibility, both tend to charge higher interest than traditional long-term small business loans. And, of course, both are subject to poor choices and overspending if not used strategically.

In most cases, a small business line of credit loan will have a higher maximum amount than a credit card. It’s more difficult to qualify for some business finance options, and depending on your business’s credit history you may be asked to put your personal credit on the line.

Credit cards will have a minimum monthly payment based on your balance and interest rate; a small business line of credit loan allows you to pay interest-only each month until you’re ready to pay down your balance. On the other hand, most credit cards charge no interest if you pay off your balance within an established grace period – usually 30 – 45 days. Some cards offer promotional rates or even zero interest for a limited time. In both cases, paying more or paying earlier than required can save you substantial amounts over time.

Credit cards usually have stiff fees for cash advances; an operating line of credit is essentially a large cash advance.

Not all suppliers or other businesses accept credit cards. Some of those which do charge additional fees for credit card use. It’s not practical to use plastic to meet payroll or pay most invoices. None of these are a problem with line of credit financing. On the other hand, some credit cards offer fraud protection, rewards programs, travel points, or other benefits similar to your personal credit cards. None of those are part of a standard small business line of credit.

One final similarity – and arguably the most important of them all: how you use your business line of credit or small business credit cards will substantially impact your credit history going forward. What terms you’re able to secure a year or more from now, on whatever type of small business financing you need, will largely depend on the choices you make with this line of credit or credit card. And it all starts today.

Loanry® is here to help you get your Business Line of Credit


Why Loanry?

Being an entrepreneur or a small business owner usually means having very little time or energy to spare. The focus and commitment it takes to keep a business on track, even once you’re established, is something only other entrepreneurs can understand.

That’s one reason it’s so important to maximize your time when looking for line of credit financing. Having access to a small business line of credit loan helps you act more quickly and use your time more efficiently; getting the loan should do the same thing.

We don’t loan money at Loanry. We don’t have t-shirts or water bottles or magnets to sell. We’re a lending marketplace, meaning we maintain a curated database of reputable lenders with strong track records, many of whom specialize in circumstances very much like yours. With just a little information about you and your needs, we work our magic helping you find a lender. If you’re happy with them, you’re happy with us – and you add to the nice feedback we keep getting and blushing over around the coffee machine.

You’re welcome to take as much time as you like and consider as many options as you see fit. It’s your business and you’re the one responsible for the loan. More often than not, however, you’ll end up back here with us, asking to help you find another online lender – which we’re happy to do. At some point, we suspect you’ll save yourself a few steps and just start here every time. That’s fine, too. We’re glad to have you.


Entrepreneurship isn’t all about the money, but it is about risk and reward – and both of those involve money. Sometimes a LOT of money. There’s no single answer to finding the right balance between taking financial chances and being practical about your financial future. There’s a time to press through difficulty and defy the odds and a time to recognize that something simply isn’t working and you may need to step back and re-evaluate. Entrepreneurs are different from everyone else. They take those risks and make those decisions. Collectively, they’re a foundational part of the American economy; individually, a number of them will fail – some more than once.

You may not be able to predict or control your financial future 100%, but you can absolutely improve your odds. You’ll never have control of how much you’re able to sell or how much revenue you can generation, but you always have control of how much you spend and which risks you take. Finding the right online business line of credit lender is probably not the make-it-or-break-it moment for your business, but it IS one of the dozens of smaller decisions you make every week which collectively add up to “make it” or allow you to “break it.” Managing your own business is hard; it’s OK not to make some parts harder than they need to be.

With that in mind, we’re here when you’re ready.


Running your own business requires endless time, energy, and focus. You become an expert in your field and end up explaining anything and everything about what you do and everything connected to it to anyone who’ll listen – and maybe even to those who don’t.

We’re the same way. We love talking about personal and small business finances, and we gladly share what we know from years of both research and first-hand experience with anyone who might benefit. We’ve built a “content mall” of related sites, each devoted to different aspects of your personal or small business finances. Learn how to create an effective household budget or watch a brief video outlining the different types of small business loans. Read up on how to best prepare for tax season or ways to save enough on your utility bills to pay down your high-interest credit cards faster than you thought possible. Use our online tools to compare loan options or estimate interest. Whatever you need to know, there’s a good chance it’s covered in plain, simple English and freely accessible from wherever you like, whenever you like, in one of our thousands of informational blog entries or our hundreds of videos.

As our “content mall” expands, we hope you’ll visit,,,,,,, and – and of course you may utilize as often as you wish. The focus of each is different, but the goal of everything in the family is the same – to help you take better control of your financial world by offering a central location for information, comparisons, and connections.


Did You Hear?

“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.”

Jeff Bezos (Founder and CEO of

Educate Yourself

Your Small Business Line

of Credit: Help Toeing the Expense Line

You may be new to small business finance or you may already have utilized one or more type of small business loan. Now you’re wondering if line of credit financing is right for your business.

In this video, we’ll cover how a business line of credit works and how your business can qualify. We’ll highlight the benefits – quick access to funding, easy transfers, evening out cash flow, improving business adaptability, developing a strong, separate credit history for your business, and more. We’ll also outline common pitfalls associated with small business loan shopping – the challenges of qualifying, low limits for new businesses, the variety of fees and charges which aren’t always obvious, and of course the temptation to spend what you qualify for instead of only what you can afford.

The choices are up to you, but the best choices are the most informed. Let’s get started exploring line of credit financing, then you can let us know what we can do next.

Explained in 3 easy steps

How all of
this works?

It all starts with a simple loan request that takes a few minutes to complete.

We provide that information, at your request, to participating members who might be able to able to assist you with your financial needs. Many lenders transfer funds to your checking account as soon as the next business day.


Step 1

Start Loan Shopping

Tell us things like who you are and how much money you need.It only takes minutes.

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Step 2

Find Lender

The Loanry® Store may help you find a lender interested in your loan request.

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Step 3

Check out

Funds are deposited directly to your bank account as soon as the next business day.

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Pros and Cons of Business Line of Credit Loans

You want your business to be adept and your cash flow effective, but you don’t want to take on debt you don’t need. Is a Business Line of Credit right for you?

Pros: Only Withdraw What You Need

Once your limit and terms are established, you use as much or as little as you need, when you need it. You only pay interest on what you’re using, and repayment can be interest-only until you’re ready.

Pros: Flexible Repayment

You can pay only the interest on the money you’re using, or pay off most or all of your balance to save on interest. Once repaid, those funds are available again as needed, and on the same terms.

Pros: Quick, Easy Access to Money

Once approved, accessing funds is as easy as writing a check or using a debit card. Line of credit loans give you flexibility and versatility for small or medium-sized business expenses – even when they’re unexpected.

Cons: High Interest Rates for Young Businesses

Unless you have a strong credit history or other stellar circumstances, a small business line-of-credit loan can come with numerous fees and relatively high interest. As you establish a stronger credit history, those rates improve and those fees may shrink.

Cons: Difficulty of Qualifying

A line of credit can require more paperwork than some other forms of small business loans, especially for younger businesses. You may be asked for collateral or to personally guarantee the loan as well.

Cons: Quick, Easy Access to Money

Sometimes the greatest strength is also the greatest weakness. The availability and flexibility of an operating line of credit requires self-discipline and strategic spending to be effective and avoid unnecessary debt.

See FAQs

Find answers to some of the most commonly asked questions here

We are a marketing lead generator and advertising service designed to provide you with quick and convenient access to third-party lenders.


We are a marketing lead generator and advertising service designed to provide you with quick and convenient access to third-party lenders.


We are a marketing lead generator and advertising service designed to provide you with quick and convenient access to third-party lenders.


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  • In the State of California, Loanry, LLC is licensed by the Department of Business Oversight pursuant to the California Finance Lenders Law. Loanry’s California license #60DBO 66864 can be viewed by clicking the image on the left.

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