Borrow as little or as much as you need with a flexible commercial funding option. Apply for a business line of credit, or if you’re looking for something a little heftier, consider our business loans.
Business Line of Credit
Quick & Easy Cash Access
What is a Business Line of Credit?
With most traditional business loans, you borrow a lump sum that you pay back on a schedule (usually monthly installments). But business lines of credit enable you to access funds quickly and easily, only repaying what you use–much like a credit card.
Though they work similarly, a business line of credit is not a business credit card. It’s a type of loan that allows small business owners to access the funds they need more flexibly, and typically at lower interest rates when you work with a credit union. They’re good fits for small businesses that want to streamline cash flow and get funds quickly.
Minimum Eligibility Requirements
If you’re seeking less than $25,000 in funds, Greater Nevada Credit Union is here to help. For needs greater than that, we’ll refer you to Greater Commercial Lending, GNCU’s expert business lending subsidiary. Here are some of our key eligibility requirements:
- At least one (1) year in business
- Credit score of 625
- Business annual revenue of $100,000
- Must have a Commercial Share Savings account to become a member of GNCU
Benefits of a Credit Union Business Line of Credit in Nevada
Business lines of credit can give small businesses like yours more financial freedom. And when you open one with a credit union, you’ll enjoy a few unique advantages.
Access up to $25,000 quickly and easily.
Help your business thrive with extra working capital and easily cover business expenses.
Raise Credit Score
Build your business’s credit rating by spending and repaying small amounts.
Enjoy the benefits of a community cooperative–credit unions offer better rates on almost everything, including business lines of credit.
Draw funds as needed and repay them over time, with optional automatic weekly payments.
When you need funds quickly, a business line of credit is faster and easier to access than many other business loans.
For Your Personal Credit Needs…
…head over to our page on personal lines of credit, or if you’re looking for real estate-specific funds, visit our HELOCs section.