Line of Credit

Business Loans Springfield

Fast. Flexible. Paperless.

(413) 287-1230
line of credit in springfield ma

Springfield Business Line of Credit

A flexible business line of credit is a great way to support your small business and fuel growth. Whether your business has been affected by COVID-19 or you need to make an investment in order to grow, this solution is very common in the corporate world. 


In fact, even the most successful small businesses experience late invoice payments, have unplanned expenses or are dealing with situations where cash flow is less than certain. In all scenarios, a business line of credit in Springfield, MA can mean the difference between closing your business or surviving and coming out on top.



Applying is free and will not affect your credit score.

Contact Us


What is a business line of credit?

Basically, a line of credit is one of the many options to finance your business. It works in a simple way – you get a predetermined amount of funds that you borrow from when you need to, and pay back later. Unlike traditional term loans, a small business line of credit in Springfield, MA lets you use the funds as and when you actually need them. 


Small business owners looking for more supplies, inventory, or settling of their operating expenses use credit line as a solution that allows them to pay back in monthly settlements and without early repayment fees. Don't hesitate to get in touch for more information on when and
how to use a business line of credit.

How can you benefit from a business line of credit?

All businesses need quick access to funds in order to run their operations. Sometimes, however, there is not quite enough working capital available at the moment you need it. Whether it’s late payments from clients or new equipment, situations like these may affect your cash flow and threaten the stability of your business.


With a line of credit, you can grow your business and accomplish more. Some of the typical uses of this solution include:

  • Purchasing new inventory or equipment
  • Relocating or expanding to new locations
  • Bridging cash flow gaps
  • Hiring new employees to meet the demand
  • Investing in new technologies


One of the key features of a line of credit is that it is a “revolving” solution. This means that you can use the funds (up to the approved amount) and repay what you have used only to make the funds available again. Our
business loans advisors in Springfield, MA are ready to help you decide on the best option for your business.

What are the interests and fees associated with a line of credit?

There are a couple of different fees that are linked to a line of credit, and they are all calculated based on different criteria. Here, we have the following:

  • Origination fees: These fees are a percentage of your credit limit and are calculated as such. For instance, if you have a $250,000 credit limit and a 2% origination fee, it means that you will owe $5,000 at the time of opening your account.


  • Monthly/annual access or maintenance fees: These are either flat fees or percentages of your credit limit.


  • Draw fees: Fees associated with withdrawals. For instance, if you withdraw $50,000 and there is a 2% draw fee, you will owe $1,000.



  • Additional fees: There may be other fees which you can best understand by looking at the terms and conditions of your loan.


Applying for a line of credit in Springfield, MA has never been easier. With us, you can get the right type of business financing you need. All you need to do is contact us and await for our response. 



(413) 287-1230

Run your business stress-free

If you ever considered business financing in Springfield, MA, a line of credit can be a great way to start. It is an option that helps you run your business with less stress and get access to funds when you need them the most. Simple to use and revolving, it is very similar to the way we use credit cards and pay the amounts we spend in monthly installments.


With Business Loans Springfield, you will get interest only on the portion of credit that you use within your credit line. For example, if you have $80,000 and use only $20,000, you will only have to pay interest on the $20,000 that you used.


We also know that having a good relationship with a lender is extremely beneficial and have been building our reputation based on that. Our goal is to develop close relationships with small businesses that need the right financing option for their needs.

If you ever considered business financing in Springfield, MA, a line of credit can be a great way to start. It is an option that helps you run your business with less stress and get access to funds when you need them the most. Simple to use and revolving, it is very similar to the way we use credit cards and pay the amounts we spend in monthly installments.


With Business Loans Springfield, you will get interest only on the portion of credit that you use within your credit line. For example, if you have $80,000 and use only $20,000, you will only have to pay interest on the $20,000 that you used.


We also know that having a good relationship with a lender is extremely beneficial and have been building our reputation based on that. Our goal is to develop close relationships with small businesses that need the right financing option for their needs.

3 Tips On Keeping A Line Of Credit

Want to know what is the best way to keep a line of credit so that you make most of its value?

  1. Pay down your balance periodically and avoid keeping the average running balance near your credit limit. Doing this will show your lender that you know how to maximize its value and flexibility.

  2. Avoid using your line of credit in Springfield, MA to cover operating losses. This makes repayment difficult down the road.

  3. Think strategically about the best time to apply for a line of credit. Usually, lenders are more inclined to grant these when the business cash flow is strong.


At Business Loans Springfield, we are here to show you the value of a business line of credit. Whether you want to fund a new marketing campaign, fuel growth or expand your business, a line of credit lets you cover all gaps and maintain your business operations by only using the amount of money that you need and paying it back in monthly installments.


We can process your request and approve your line of credit in as little as 1-2 working days. If you want to get additional information about this solution and advice on how it works for your needs, contact us and we will assist you with all of your financing needs.


(413) 287-1230
Share by: