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RE: Main Street Lending — Business Line of Credit · Loan Summary

Loan Summary

Business Line of Credit.

Flexible cash flow, ready when you need it.

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— At a glance

At a glance

$10,000 to $250,000
Loan size
Revolving, with draws repaid over 6 to 18 months
Term
Best for
Smoothing cash flow, seasonal working capital, just-in-case access
Repayment
Weekly or monthly principal and interest on the drawn balance
— What it is

What it is

A line of credit gives you access to a credit limit. You draw funds when you need them, pay interest only on the outstanding balance, and the available balance refills as you pay it down. Some lines are unsecured, others are secured by business assets or specific collateral such as inventory or receivables. We underwrite the line in-house and decide what works for your file.

A Main Street line of credit is a revolving facility you can draw against repeatedly, similar to a business credit card without the card. You only pay for what you use, which makes it a strong fit for managing seasonal cash flow, covering payroll between payments, or stocking up on inventory ahead of a busy stretch. We approve the limit, we monitor the line, and we keep it open as long as the business stays in good standing.

— Pros and cons

Pros and cons

Pros

  • Pay interest only on what you draw
  • Funds are reusable as you pay them down
  • Useful safety net for unexpected expenses
  • Lighter underwriting than a term loan of the same size

Cons

  • May carry a small annual or maintenance fee
  • Unused lines can be reduced if revenue softens significantly
  • Smaller limits at the early stages of a business
  • Strong personal credit usually required for the best terms
— Documents we'll ask for

Documents we'll ask for

  • Three to six months of business bank statements
  • Most recent business tax return
  • Driver license for each owner with 20 percent or more ownership
  • Voided business check
  • Brief description of business and intended use of the line
— Common questions

Common questions

Do I have to draw the full amount right away?

No. The advantage of a line of credit is that the limit sits there ready and you only borrow what you need, when you need it.

Will Main Street keep my limit available forever?

We review lines annually. As long as the business stays in good standing and you continue to use the line responsibly, the limit stays in place and often grows with you.

How are payments structured?

Most draws are repaid in fixed weekly or monthly installments over six to eighteen months. We tell you the payment structure for each draw before you take it.

Can I use a line of credit for any business purpose?

Generally yes, as long as it is a legitimate business use. Owners use it for inventory, payroll, marketing, repairs, and to cover gaps between client payments.

— Related products

Term loan

A traditional installment loan from Main Street with a clear amortization schedule and predictable monthly payments.

Equipment

Finance trucks, machinery, kitchen equipment, medical and dental gear. The equipment secures the deal.

Factoring

Sell your B2B invoices to Main Street and get most of the value up front, with the remainder paid when your customer pays.

Signed by Main Street Lending LLC

Est. 2019 · The lender on your block

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