Business line of credit

Similar to a company credit card, a business line of credit is a finance resource that you can use whenever you need, up to a specified credit limit. You can withdraw different amounts over time to support a range of business needs, be it managing your cashflow, funding growth or covering unexpected bills.

Each figure you withdraw effectively becomes a separate loan which you can then repay either in agreed instalments or all in one go. You’ll only pay interest on the amount you withdraw, not your full credit limit, so it can be a useful option to have if you can’t predict how much you’ll need to use.

There are various types to choose from, too. Sometimes known as a business equity line of credit, a secured line of credit is backed up by your company or personal assets. An unsecured business line of credit meanwhile is not. You may be offered a revolving credit option, where you can borrow money again once you’ve repaid. Non-revolving lines of credit mean you cannot.

But there are reasons why a business line of credit may not be everything you need it to be. You may still be offered less than you’re looking for or have your application turned down due to your credit history. We believe there’s a better way – step forward the Liberis Business Cash Advance.

Both a business line of credit and our Business Cash Advance can bridge the gap between the tasks you need to do and the cashflow you need to get them done. But there are some key differences that could make the Business Cash Advance better suited to you.     

A line of credit is more like a bank loan in that you’re likely to be tied to fixed repayment periods after you draw cash out. On top of your other overheads and expenses this could in fact add to your cashflow struggles. The beauty of the Business Cash Advance is that it works in tandem with your finances – you only pay it back when you earn. And since we collect payments automatically as a proportion of your monthly card takings, late payments simply aren’t possible.    

Its ready availability is one of the key benefits of a line of credit - but it’s just as quick and easy to re-apply for extra finance with Liberis. You can also access repeat funding early once you’ve paid back at least 70% of your advance. We see ourselves as a long-term partner for UK businesses, and 80% of our customers come to us for repeat funding.

Some lines of credit can also involve lengthy and difficult application processes, particularly if there’s assets involved or your credit history is poor. There’s no wasting time with Liberis however – you could get approved in five minutes, as we base our decision on your business potential, rather than past performance.

Need a cash injection for your business? Parliament research finds that many SMEs either lack trust in banks or don’t think they’ll be successful in applying for traditional finance. Whether you’re bracing yourself for off season or getting ready for growth, there’s plenty of reasons why we’re the right alternative finance provider for you.   

• Supported over 12,000 UK businesses with a Business Cash Advance
• Provided British sole traders and SMEs with over £400m in funding
• Recommended by 9 out of 10 customers, with 80% returning for repeat funding
• Backed by the government-owned British Business Investments
• Named Alternative Finance Provider of the Year at the British Small Business Awards 2018
• Winner of Alternative Lender of the Year two years in a row at the Credit Awards

Awareness of alternative finance is growing among UK business owners - and our Business Cash Advance is one of the most common quick and easy solutions they’re turning to.

As opposed to a traditional secured loan or business line of credit, it’s an advance of funding based primarily on your future card sales. We’ll send you your money in a lump sum, and you’ll pay it back plus a pre-agreed fee as and when you earn. This means you’ll pay more in months when business is booming, and less when trade is slower, and we’ll always collect your repayments automatically. The percentage you’ll pay back remains the same, even if your advance takes longer to pay off than expected.

It’s this flexibility that works so well for our customers. Chantal, owner of Perfect Day florists explains: “The process is so straightforward. Especially the repayment system… It’s a big advantage over paying a monthly fee like you would with the bank.”

The flexibility doesn’t end with the repayment process. From covering for outstanding customer invoices to investing in staff training or paying emergency repair bills, you’re free to use your Business Cash Advance for whatever matters most to you.

And that goes for many industries, too. Some can face more resistance from traditional lenders than others – but whether you run a restaurant, a hotel or a retail business, a cash advance could help you move forward. You can read examples of how our customers have used our finance to take them to the next level in our business stories.

Our own research tells us that most small businesses see funding as an enabler for reaching their goals. It’s vital at both ends of the spectrum however, with others using it as a lifeline to survive tougher periods and maintain business as usual.

We understand that running a business is unpredictable and priorities can change. Whatever your funding needs, the Business Cash Advance is here to help. 

As you only pay back when you get paid yourself, the Liberis Business Cash Advance is a finance solution built around your business potential.

If you’re still unsure about making an obligation-free application that won’t impact your credit score, here are a few important characteristics of our Business Cash Advance to help you make your decision:  

• No set monthly repayments: Unlike traditional loans or a business line of credit, you only pay back as a pre-agreed share of your monthly credit and debit card takings
• No APR, penalties or charges: We’ll agree all costs with you upfront, and there’s no risk of missing payments as we collect them automatically
• Quick and seamless application: We could give you a decision in under five minutes – and transfer your funding as fast as a day later
• High chance of approval: We look forward, not back, so a poor credit rating or previous unsuccessful applications for finance won’t automatically rule you out
• Easy to manage: View your balance on your myLiberis portal and re-apply online once you’ve paid 70% of your previous funding

As you only pay back when you get paid yourself, the Liberis Business Cash Advance is a finance solution built around your business potential.

If you’re still unsure about making an obligation-free application that won’t impact your credit score, here are a few important characteristics of our Business Cash Advance to help you make your decision:  

• No set monthly repayments: Unlike traditional loans or a business line of credit, you only pay back as a pre-agreed share of your monthly credit and debit card takings
• No APR, penalties or charges: We’ll agree all costs with you upfront, and there’s no risk of missing payments as we collect them automatically
• Quick and seamless application: We could give you a decision in under five minutes – and transfer your funding as fast as a day later
• High chance of approval: We look forward, not back, so a poor credit rating or previous unsuccessful applications for finance won’t automatically rule you out
• Easy to manage: View your balance on your myLiberis portal and re-apply online once you’ve paid 70% of your previous funding

The last thing you need when managing your business finances is unexpected fees. We won’t hit you with nasty extras at any point in your agreement, and we’ll agree all the costs with you before you get started. 

We’re committed to responsible funding at all times, so the amount and rate we offer will be tailored to reflect your business history and potential. Get a free no-obligation quote today to get a better idea of what your bespoke price could be.   

line of credit or loan alternative could be the answer.

Click ‘GET A QUOTE’ to start filling out our short online application form. We’ll ask for a few details about your business, such as your historical card takings, then one of our friendly funding consultants will get back to you to take things further. Remember applying for a quote won’t impact your credit score – and there’s no obligation to go ahead if you change your mind.

For fast and flexible funding that complements your cashflow, choose a Liberis Business Cash Advance.