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Lines Of Credit

For... Auto Repair Shop Manufacturers Restaurants Contractors Healthcare Veterinary Your Small Business

  • Same Day Funding
  • $10,000 to $5,000,000
  • Choose Your Vendor
  • Rates from 7 - 19%
  • 6 Months - 10 Year Terms
  • Weekly & Monthly Payments
  • Only Pay Interest on Drawn Funds

Get Started Today & Speak With An Advisor

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Simple Application

Our simple 15 second online application can get you matched with offers in minutes.

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No Minimum FICO

Bad credit? No problem! Most of our top financing options have no minimum FICO.

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Larger Amounts

Get matched with the best financing options with the highest funding amount.

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Same Day Funding

Our FinTech Speed can get you in and out of Underwriting in just a few hours, and same day funding!

What Do You Need To Qualify?
6 + Months in Business
You can qualify for our top financing options with as little as 6+ months in business.
5,000 Monthly Gross Sales
The minimum revenue to qualify for financing options are $5,000 per month, or $60,000 in annual gross sales.
600 FICO Score
We have financing options for all credit profiles. The minimum FICO score required to apply is 600.

FinTech
Speed

Easy 15-second application to get options in just minutes and funding in hours!
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In order to qualify for business equipment financing, you’ll typically need a FICO score of at least 650 – or 6 months of business history and at least $120,000 in annual revenue.


While banks and credit unions have low approval rates, TRAM offers enormous flexibility when it comes to qualifying for equipment financing.


With a FICO score of 650 or higher, you may be able to forgo time in business and monthly revenue requirements entirely. You can still secure funding if your FICO score is less than 650, but you’ll need to show at least 6 months of business history and $120,000 in annual revenue. This setup is ideal for newer businesses and startups, or those that may be otherwise rejected by traditional banks.

What are the benefits

Simple, FinTech Speed

  • Streamlined process with a fully digital application and funding in as little as 24 hours.

Choose Your Vendor

  • Purchase the best equipment for your business, regardless of industry (no restrictions).

No Up-Front Fees

  • Finance the entire cost of the equipment, without high fees in the beginning.
Frequently Asked Questions

A line of credit (LOC) for your business gives you access to a pool of funds to draw from when a business owner needs capital. Unlike a traditional business loan, you have the flexibility to borrow up to a set amount (typically anywhere from $50,000 to $500,000), repaying only the amount you withdraw, with interest. You can draw on your small business line of credit to handle cash flow gaps, get more working capital, meet payroll, purchase inventory or materials, or address almost any other emergency or opportunity.


Types of Business Line of Credit: Secured and Unsecured

#1 – A secured business line of credit:
A secured business line of credit requires your business to use an asset of choice, usually real estate as collateral to obtain the business line of credit. This may be the best option for businesses that may not have enough time in business or past credit issues that would hinder them from receiving an unsecured loans. The nature of a secured business line of credit is the institution will utilize the collateral for payment if a business defaults on their loan.

To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.


#2 – The unsecured business line of credit:
An unsecured business line of credit does not require the use of an asset as collateral, similar to a credit card. However, lien and personal guarantee may be necessary. These types of loans are generally more of a risk to the lender. Without the use of collateral, your business must have a strong credit score and a positive business record of accomplishment. An unsecured business line of credit may have higher interest rates than secured due to the risk to the lender.

To learn more about how a secured or unsecured business line of credit may benefit your business complete our 15-second application to speak with a business financing advisor.

A small business line of credit is one of the best products for small business owners who want flexibility and the option to be able to draw the funds when they need it. TRAM Funding offers a secured and unsecured line of credit. Unsecured lines of credit are not attached to any assets. A secured line of credit is secured by assets such as accounts receivables, invoices, or equipment.
 
We’ll go over how a business line of credit works, the costs, the business line of credit requirements, the use of proceeds, and how to get a business line of credit, to help you determine if this type of financing is the best option for your small business.
 
To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.
Simply put, a lender gives you access to a specific amount of financing set by a credit limit, which you can draw from whenever your business needs the funds. It allows access to capital at your fingertips when you need it. First, log into your small business line of credit assigned portal, then click and draw funds, it is that easy!
 
However, you don’t make payments or incur any interest until you actually tap into those funds and draw them. You only pay for what you use, therefore you are only charged interest while using the funds. If you pay the borrowed money back early, you can save drastically on the interest with early pre-payment discounts.
 
Business lines of credit can come secured—backed by collateral like inventory, accounts receivable, and so on—or unsecured, backed only by your personal guarantee. In some cases, a line of credit lender will file a UCC against the business while you are using the funds. Read more below to find out how to get a business line of credit.
 
To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.
This sort of financing often gets referred to as “revolving” credit because you can tap into your credit limit over and over again. And when you repay what you’ve spent, you can continue to draw capital from your line of credit. Therefore, you will have access to funds in the future when needed. The best line of credit lenders will increase the credit limit as you build payment history with that lender.
 
For instance, say you’re given access to a $50K small business line of credit.
 
Now you only need $30k to purchase some inventory for your business, so you draw out the $30k, keeping the other $20K in the pool of available funds.
 
Once you pay back the $30K borrowed plus interest, you’ll have the full $50K again at your fingertips, without having to go through the application process and apply for another loan. You have the flexibility to pull on that $20K anytime needed in the future. Each draw is considered separate and treated as its own separate payment schedule.
 
To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.
Remember you are only charged interest as you are using the funds, so you are also eligible for huge savings on interest, for paying the line of credit back early. At each draw, you will get an amortization schedule, which will show you the cost of the funds you draw, over the course of each month of the term. Many business owners use it for short-term bridge capital when an opportunity or something unexpected arises.
 
For Example: Let’s say you have a 12-month term, which comes in a 12% interest rate. For simplicity purposes, each month the lender is charging you 1% for using the money. If you pay the line of credit off within just 3 months, you will not end up paying the full interest and would pay 3% for using the funds for 3 months.
 
The time and energy you save are some of the biggest benefits. You will have access to your TRAM Funding line of credit whenever you need financing in the future. Your credit limit can be increased based on payment history and underwriting evaluation.
 
To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.
A business line of credit is based on the monthly revenue and business owners credit score. Newer, less established businesses might be able to qualify, even with a short time in business. Medium-term lines of credit are more for businesses with good credit and a solid financial history. To qualify with TRAM Funding, you only need 4 months of business history. If you are looking for a larger dollar amount, please ask one of our funding specialists about adding collateral or securing the line of credit with invoices or account receivables.
 
The maximum credit limit amount, introductory term of the credit line, and repayment terms depend on your business’s revenues, credit rating, tradeline history, time in business, and other factors. See below the business line of credit requirements.
 
To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.
The basic cost of a small business line of credit is completely straightforward. Simply put, if you draw from the line, then you pay back the amount drawn plus interest. The interest rate is charged on a monthly basis, so whatever your balance is at the end of the month, that is what you’ll be charged interest on. People always ask, what are the business line of credit rates? The business line of credit rates can vary based on whether the credit line is a secured line of credit or an unsecured line of credit. Typically, both are based on your personal credit score and average monthly revenue so the rates may vary.
 
To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.
Let’s say a construction company receives a large job and does not have the funds to purchase materials for the upcoming job and cover payroll. The owner calculates that he needs $50k to cover the material for the new large job and payroll.
 
For this example, let’s say that a $50k cushion would prevent issues like this from happening in the future. As the business owner, you know your construction job will be paid within 90 days.
 
So you reach out to TRAM Funding and apply to open a small business line of credit of up to $100K.
 
Next time you need to purchase materials for a new large job and cover payroll, you can draw funds to cover your expenses. You will have access to the $100k business line of credit anytime you need it in the future. If you pull out $50k for materials and cover payroll, then pay the funds back within 90 days when you get paid from your customer, you will only be charged interest while you are using the funds. The TRAM Funding line of credit offers flexibility and peace of mind, that funds will be available in case you need them in the future or today.
 
To learn more about how a business line of credit can help with working capital in your business complete, our 15-second application to speak with a business financing advisor.
Our goal is to help get businesses back to business by providing the best small business and commercial lending options available today. Our streamlined processes and strong relationships allow us to process hundreds of transactions/month resulting in hundreds of millions of dollars distributed to small businesses, nationwide on a monthly basis.
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