It doesn’t have to be difficult.
Easy Online Application
Fill out our online application form and we will have an answer for you in 24 hours or less.
Receive an Offer
Define what you are agreeing to:
Rates, terms, etc.
Accept Your Loan
You’ll only pay for the funds you use
With an Unsecured Business Line of Credit (LOC) from Gloven Capital, you can access the funds your business needs, whenever you need them.
If your business has been operating for at least 2 years, you could qualify for funding up to $55,000.
The advantage? You only pay interest on the amount you use, not the full credit limit. There are no pre-payment fees, so you can pay off your balance early and reduce your interest costs. Grow your business effortlessly with Gloven Capital’s flexible line of credit.
Funding options: 5,000to55,000
Repayment terms: 6, 9, or 12 months
Minimum credit score required: 550
Pay interest only on what you use
Simple online application process
Get approved in 24 hours with same-day funding
Available to businesses in all 50 states
Save more with early repayment discounts
Competitive interest rates starting at 15%
Choose Gloven Capital for fast, reliable, and flexible financing solutions tailored to your business needs.
A Line of Credit (LOC) is a versatile revolving loan where a lender, such as a bank or private lender, agrees to provide a borrower with access to a predetermined amount of capital. The borrower can withdraw funds as needed, up to the agreed-upon limit, as long as they make timely payments and do not exceed the maximum amount outlined in the agreement.
The balance in a line of credit is revolving, meaning borrowers can withdraw funds, repay them, and then access the funds again in a continuous cycle. This functionality makes lines of credit similar to business credit cards, offering ongoing access to capital.
Business owners often use a line of credit for various purposes, such as renovating or expanding their offices, purchasing new equipment, covering payroll, buying inventory, launching marketing campaigns, or managing unexpected expenses.
One of the key benefits of Gloven Capital’s line of credit is its flexibility. Unlike traditional business loans, a line of credit allows business owners to access funds on an as-needed basis, paying interest only on the amount they use. This makes it an ideal financial tool for managing cash flow, seizing growth opportunities, or handling unforeseen costs.
With Gloven Capital, you gain the financial flexibility to grow your business on your terms.
When you apply for a line of credit with a traditional bank, you’ll need to complete extensive paperwork to demonstrate a steady cash flow and a solid credit score. Even after submitting all the required documents, approval isn’t guaranteed.
However, online lenders like Gloven Capital offer more flexible qualifications compared to traditional banks.
To qualify for an unsecured line of credit, all you need is at least two years in business and $20,000 or more in monthly revenue. After reviewing your application and business revenue, you’ll know within 24 hours or less if you’ve been approved. Additionally, you’ll receive an offer detailing the rates and loan terms.
If you’re approved for a line of credit but don’t need to withdraw funds right away, there’s no need to worry. You’ll only pay interest on the funds you use. If you don’t use any funds, you won’t owe anything.
Time in Business: 2 years min.
Monthly Revenue: $20K avg.
Business Bank Statements: 4 months
Overdrafts: Less than 5 negative days per month
Minimum Credit Score: 550
Fill out the online application and tell us about your business
We review your business’ revenue and documentation
If your application gets is approved…
The funds are deposited into your account within 24 hours
Here’s an important question: how do you prepare for the unexpected in your business?
You may have been saving for a rainy day, but surprises—both good and bad—can happen to anyone. That’s when a revolving business line of credit becomes invaluable, helping to fill any financial gaps.
With a revolving line of credit, you can borrow money to smooth out your cash flow, repay it, and then reuse it—as long as you stay within the credit limit.
When used wisely, a line of credit is a flexible financial tool that can support your business growth, pay bills, cover payroll, or make short-term investments.
It’s a smart move to secure a revolving line of credit, even if you don’t need it right now. Keep in mind, the best time to apply for business funding is when you don’t urgently need it—not when you’re scrambling to find capital.
One key difference between a line of credit (LOC) and a traditional Small Business Term Loan is the flexibility a LOC offers. With a line of credit, borrowers can withdraw only the amount of capital they need to meet their business’s needs and pay interest only on the portion they’ve used.
Borrowers don’t have to draw the full approved amount. In contrast, with a regular business loan, borrowers receive a lump sum of cash that must be repaid in fixed monthly installments. In other words, a line of credit gives the borrower the flexibility to access as much or as little as they need, as long as they stay within the maximum credit limit.
If you’re thinking about getting a line of credit for your business, it’s important to know there are two types: a secured LOC and an unsecured LOC.
The key difference is that with an unsecured LOC, no collateral is required, making the approval process faster.
On the other hand, with a secured LOC, you can access a higher borrowing amount because the credit is backed by your assets. However, most small business owners tend to prefer an unsecured line of credit due to its quicker approval process and lack of collateral requirement.
Nine Ways to Start a Business Without a Traditional Bank Loan
If you’re looking to start a business without relying on a bank loan, there are plenty of viable alternatives. Be sure to explore and compare the various options to find the best rates. Our list highlights several options that could help you get your business up and running.
Helpful Tips When Filling Out the Application
When filling out your business line of credit application, accuracy is key. Mistakes or errors in your information can lead to a “Denied” stamp on your application. Carefully review all details before submitting, and make sure you have your work and personal references ready.
How to Use a Business Loan to Grow Your Company
For many entrepreneurs, banks are a difficult option, and investing personal money can be a risky move. Experts recommend avoiding using all your own funds for your business. Instead, explore funding options through financial institutions to safely grow your company.
A Closer Look at How to Qualify for an SBA Loan
Running your own business can be complex, and securing funding is a major concern for many entrepreneurs. Since capital requirements vary by industry, understanding the process of qualifying for an SBA loan can help you navigate the challenges of getting your business off the ground.
Eight Tips to Help Your Small Business Increase Sales
Small businesses face numerous challenges in boosting their revenue. However, there are actionable strategies that can help. In this guide, we’ll explore eight effective tactics that your business can implement to increase sales and profits.
How to Fix Bad Business Credit
Whether you’re just starting out or have been operating for a while, maintaining good business credit is crucial. A strong credit standing is essential for accessing financing and ensuring your business’s financial stability.
How to Qualify for a Small Business Loan in 8 Steps
Getting rejected for a small business loan can be disheartening. If you feel confident about your business’s future and have a solid plan, but still face rejection, these 8 steps can help guide you to a successful loan application next time.
Business Term Loan, MCA, or Business Line of Credit: Which One Is Right for Your Business?
Every business needs capital for daily operations, unforeseen expenses, and growth opportunities. Choosing the right financing option can be overwhelming, but understanding the differences between a Business Term Loan, Merchant Cash Advance (MCA), and a Business Line of Credit can help you make the best choice for your business needs.
What Type of Loan Is Right for My Business?
As a business owner, you’ll likely need a loan at some point. With so many loan options available, it’s essential to understand your choices. Here, we’ll outline the most common types of business loans and how to determine which one is best for your business.
Hard Money Loans: A Viable Borrowing Alternative
As demand for alternative financing grows, many people are turning to hard money loans as a strategic option. These loans offer a private and flexible solution for those in need of quick funds, especially when traditional lenders aren’t an option.
We’re here to help. Send us an email or call our experts at 1-305-890-9000
Gloven Capital offers business owners alternative working capital solutions through our various funding programs for business loans.
