Do you want to draw from an approved amount's , taking what you need when you need it? The same simple process that qualifies you for a Working Capital Loan can position you for eligibility for Bankit's Line of Credit.
We’ll approve you for the maximum loan for which your business qualifies. Take as much of that as you can actively use now – and know that the additional funding is there if and when you need it.
You also have the ability to pay in excess funds to reduce your balance, or request an additional draw if you need the extra funding – as you need. Once again, you will only pay fees on the money you have actually accessed.
This allows you the freedom to manage your funding as you wish – and this flexibility means that you can react to changes in your business circumstances as they occur. You’ll have the comfort of knowing that Bankit Capital is always available to provide you with what you need, when you need it.
You receive an approval for a $100,000 line of credit for your business. You decide to access $75,000 today. You only pay fees on the amount that you’ve accessed, not the amount you’re approved for!
Now let’s say you pay the balance down to $50,000 and then decide to access another $25,000-$50,000 a couple of months later. No problem. That’s how your line of credit is meant to be used.
You just need to: