Lendinero's blog on Growing Your Business
Lendinero, a leading online provider of working capital financing to small businesses, is gaining traction by offering business lines of credit.
The Lendinero line of credit program offers companies a line of credit between $5,000 to $150,000.
Lendinero began providing this product on February of 2018 and has originated over $5 Million from small businesses who prefer a business line of credit as oppose to a daily payment loan. The process is fast and simple. The business owner only needs to provide the last 3 months of bank statements, a business utility bill, a voided check and a valid U.S identification to get a credit decision. This a true business line of credit. Businesses’ available credit replenishes as they repay their outstanding funds, allowing business to draw additional funds anytime, on-demand. Interest rates can range from 6% to 20%, depending on the creditworthiness of the borrower and the business. Payments can be made weekly or monthly depending over a 6 month or 12-month period. When the time frame expires the business, owner can obtain a new credit line repeatedly. Businesses are only required to withdraw $5,000 at the time of funding. Five thousand is relatively a small amount on a business line of credit of $50,000. The business owner only pays on what they withdraw. If the business owner is approved for $50,000 and they withdraw $10,000; they only make a payment over the $10,000. This provides businesses convenience and also gives them cash on demand.
Since launching this product Lendinero has helped thousands of small businesses obtain quick, easy access to funds they need to purchase inventory, cover expenses or expand operations. Obtaining a business line of credit with Lendinero is much easier than a obtaining one from a bank.
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