Lyft Capital Business Lines of Credit
Secure the working capital you desire with the benefits and flexibility of a business line of credit.
Quick and Affordable Financing For Your Business:
- Funding up to $1M
- Competitive industry rates
- Simple 1 page application
- Same day approval process
Minimum Requirements:
- $300,000 annual revenue
- 650 credit score
- 2 years in business
Take on your next business challenge with a business
line of credit from Lyft Capital
Explore the benefits of a business line of credit. Access your credit line, whether it’s a small or substantial amount, precisely when your business requires it, for ANY business need. You’ll only make payments on the funds you utilize!
What makes a business line of credit worth considering?
Maintaining access to working capital is a prudent approach when managing a small business. In instances where you prefer not to deal with a sizable lump sum and the extended commitments associated with a small business loan, or when a business credit card isn’t the optimal choice for your business’s well-being, a business line of credit might be the perfect solution. With a streamlined application process, competitive rates, and adaptable repayment options, securing dependable and ongoing cash flow has never been easier. Review the small business line of credit requirements before you apply.
Working Capital
One of the primary reasons businesses opt for a line of credit is to maintain sufficient working capital. It provides access to funds that can be used to cover day-to-day operating expenses, such as payroll, inventory restocking, and utility bills.
Flexibility
Unlike traditional loans with fixed monthly payments, a line of credit offers flexibility. You only pay interest on the amount you use, and you can repay and reuse the funds as needed within your credit limit.
Building Business Credit
Successfully managing a business line of credit can help establish and improve your business credit score. This can be beneficial when seeking larger loans or better credit terms in the future.
Cash Flow Management
Lines of credit can be used to manage cash flow effectively. For instance, if your business has a delay in receiving payments from customers, you can use the line of credit to cover immediate expenses.
Am I Eligible for a Business Line of Credit?
Eligibility for a Line of Credit might not be as challenging as you imagine! Depending on the amount you wish to obtain, there are only a few basic criteria to fulfill (perfect credit is not necessary), including:
- $300,000 annual revenue
- 650 credit score
- Established business credit
- 2 years in business
Business Lines of Credit – What You Should Understand
Running a business can introduce a great deal of unpredictability, encompassing unexpected equipment repairs, seasonal fluctuations, unforeseen growth spurts, and everything in between. However, when you secure a business line of credit through Lyft Capital, unpredictability no longer implies instability. You gain the flexibility to cover business expenses that exceed credit card limits or fall below the threshold for a small business loan, all while paying interest solely on the amount you utilize. Ensuring a continuous flow of working capital and maintaining financial stability, even during the most chaotic periods has never been more straightforward period.
How to Get Started ?
Step 1: Complete our brief online application. It should take about five minutes.
Step 2: A financing specialist reviews your business and requested credit amount.
Step 3: If approved, review your credit limit, rate, and repayment terms with your specialist.
Step 4: Access funds as needed and pay only for the amount you draw, according to your agreement.
Frequently asked questions
What can I use a business line of credit for?
You can access your credit line for any business need, whether the amount is small or substantial. Businesses use a line of credit to cover day-to-day operating expenses such as payroll, inventory restocking, and utility bills, and to cover immediate expenses when customer payments are delayed. It can also cover business expenses that exceed credit card limits or fall below the threshold for a small business loan. You only make payments on the funds you use.
How do payments work on a business line of credit?
Unlike a traditional loan with fixed monthly payments, you only pay interest on the amount you use. You can repay and reuse the funds as needed within your credit limit. You access funds as needed and pay only for the amount you draw, according to your agreement.
Our passion is helping you succeed
Lyft Capital is all about your business growth.
Why choose us
Lyft Capital helps small businesses compare financing options with dedicated guidance. This page is for a business line of credit of up to $1 million.
1.
What this line of credit is for
A line of credit is a limit you draw from and repay. It is not a one-time equipment purchase, and it does not ask for a vendor invoice. Founded in 2016, Lyft Capital has helped small businesses across the country access the working capital they need to grow. Our team brings 20+ years of combined experience in business lending. The limit on this page is up to $1 million.
2.
Line of credit eligibility
To qualify for this line of credit, a business needs at least 2 years in business, $300,000 in annual revenue, and a 650 minimum credit score.
3.
What to compare next
Compare this line of credit with Lyft Capital’s term loan, revenue-based financing, equipment financing, and SBA loans using the $1 million limit and the eligibility on this page.
