About Business Line of Credit
When flexibility is a priority, consider a business line of credit. You can get anywhere from $100,000-$500,000,000 and the money is typically available in 2-5 business days. The rates vary from 3-9%, and the financing usually comes with a 1-5 year maturity.
Think of a line of credit as a financial safety net for your business. It’s there if you need it, but you’re under no obligation to use it. And when you do tap into it, you can use it to cover almost any business need. Plus, you only pay interest on the funds you use, not the full amount. In other words, it’s as flexible as a double-jointed yoga teacher.
Business line of credit benefits with ACL
- Simplified Documentation
- Loan Disbursal in 2-5 business days
- Transparent Processing
- Competitive rate
To get your business line of credit, you’ll typically need to be in business at least 6 months and have $50,000 or more in annual revenue.
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Features and Benefits of Loan
A business line of credit is revolving, so rather than receiving a lump sum, you can access the money as many times as required. There’s no pressure to dip into the money, but it’s always there.
Whether you’re using it to purchase equipment, add inventory, hiring staff, expand to a new location, pay invoices, or add a vehicle to your fleet, you’ll only pay interest on the exact amount of money you use.
Faster Loan
As soon as 2-5 business days
Choose your amount
$100,000 – $500,000,000.
Enjoy the best rates
Our loan rates and charges are very attractive,As low as 3-9%
Decide your tenure
1-5 Year Maturity
Eligibility Criteria for Loan
Any self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a business line of credit loan.
To get your business line of credit, you’ll typically need to be in business at least 6 months and have $50,000 or more in annual revenue. You’ll also need a credit score of 400 or higher.
ACL may ask you to make a personal guarantee, which is an agreement that ACL may be able to levy personal assets such as a car, house, or bank account if you default on the line of credit.
Age
Maximum age of applicant at loan maturity: 60 years
Income
Minimum Net Monthly Income: $ 50,000
Credit Rating
Applicant should have the specified credit score of 400 or higher
Check Eligibility
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Documentation
The following documents are required along with your Business LOC Loan application:
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Personal Identity proof (copy of passport/driving license)
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Home Address proof (Utility Bills)
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Business Bank statement of previous 3 months (Passbook of previous 6 months
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certificate of incorporation/license
- Minimum annual turnover of $500k
- Business transaction files
Fees and charges
Applying is free and it won't impact your credit.
Below are fees and charges that you may be required to pay:
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Types of fees
Charges applicable
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Interest rate
Up to 3% -6%
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Loan statement charges
NA
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Interest & principle statement charges
NA
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EMI bounce charges
$100 for every bounce
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*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges
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Frequently Asked Questions
We are almost ready with your Frequently Asked Questions. Already we answered all question please check below.
Anytime cash loan llc(ACL) is the provider of business and personal financing in the USA, UK, CANADA, mainland Europe and Australia. We use a simple online application to determine the financial health of your business and let you know how much finance you can access. This allows us to approve unsecured loans to qualifying firms. ACL lends from its own balance-sheet.
ACL uses unique credit technology to form a deep understanding of the financial condition of a business and lends from its own balance-sheet. This approach enables us to make quick, sound decisions.
We provide our customers and partners with a quality service because:
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We listen to our customers' stories and understand their challenges.
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We are real people who take the time to build relationships.
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We have a wealth of financial knowledge and experience within our team.
The ACL application process is entirely online. We ask for basic information about your business and the owners. Financial information is provided by uploading financial accounts, bank statements and VAT documents. None of these need to be prepared specially for the application.
Our unique credit technology evaluates the financial health of your business and our credit team advises how much you are able to borrow.
Once your ACL business credit line is approved, you can draw down funds into your business bank account. Funds are transferred into the bank account you specified on your application for the credit line. We initiate the transfer immediately after you request it and it is usually with you by the next working day, depending on your bank.
If you are approved for an ACL line of credit but do not draw down any funds, you pay nothing. When you first draw down funds from the credit line, you are charged a one time arrangement fee. This fee is a percentage of your full credit line amount, and this fee is taken when you first draw funds down.
You are charged interest on any outstanding loan balance. The interest rate is based on your risk profile and you will be advised of this rate when your line of credit is approved.
No, you are not charged any extra fees when you repay early. We don’t penalise you for early settlement.
ACL abides by the Data Protection Act 2018 (‘Data Protection Act’) and all other relevant USA and European data protection and privacy laws.
All data electronically transferred between you and ACL is encrypted, using one of the strongest forms of encryption available commercially. We are committed to keeping your data safe.
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